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Silicon Beach Report March 14: Faraday Selling Manufacturing Plant for $40 Million

Activision Blizzard seeks e-Sports franchise owners; Backstage Capital accelerator launches; Faraday asks $40 million for Vegas site

Faraday Asking $40 Million for Vegas Plant

The partially improved Nevada site of downtown-based electric car designer Faraday & Future Inc. is listed for sale with a $40 million asking price, according to the Business Journal. Faraday Future said in a March 13 press release it will move its proposed manufacturing site to land in Hanford, Calif., which it owns but has not finished construction on.

Activision Blizzard Offering $25 Million Franchise Spots

Santa Monica-based video game publisher Activision Blizzard Inc. has begun marketing spots for its franchised “Call of Duty” e-sports league, ESPN reports. The city-specific franchise is set to launch in 2020, and Activision has asked potential buyers to indicate interest within the next two weeks. The franchise price is currently set at $25 million per team.

Backstage Capital Launches Accelerator

Minority-focused venture capital investor Backstage Capital, headquartered in West Hollywood, announced March 14 it launched a three-month accelerator program to support its portfolio of companies led by people of color, women or LGBT founders. Socaltech reports the Backstage Accelerator will include an inaugural class of 25 companies, and run in Los Angeles, Detroit, Philadelphia and London.

Tech reporter Samson Amore can be reached at samore@labusinessjournal.com or (323) 556-8335. Follow him on Twitter @samsonamore.

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