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Silicon Beach Report May 2: Soothe Raises $31 Million, Heads to Vegas

Soothe raises $31 million, heads to Vegas; Snap doubles down on redesign; SpaceX commercial missions delayed.

Soothe Raises $31 Million, heads to Vegas

Soothe, a massage-on-demand service made three major announcements: the closing of a new $31 million round of funding, relocation from Los Angeles to Las Vegas and the naming of a new CEO, Techcrunch reports. The Series C capital infusion comes from the Riverside Company. As part of the move, Merlin Kauffman, chief executive and founder, will move into the role of executive chairman and Chief Financial Officer Simon Heyrick will become the new chief executive.

Snap Doubles Down on Redesign

A day after Snap Inc. announced poor performances in revenue and new users, Chief Executive Evan Spiegel doubled down on the redesign, Recode reports. Although Snap executives acknowledged the new layout hurt its advertising revenue, Spiegel expressed confidence in the communication products and media platform that together make up the app. The stock was down another 22 percent as of 3 p.m. ET.

SpaceX Commercial Missions Delayed

A new report provides some insight into the challenges that SpaceX and Boeing are facing when it comes to flying commercial crew missions, and it also suggests both companies may be nearly two years away from reaching operational status for NASA, Ars Technica reports. The assessment of large projects at NASA, published on Tuesday by the US Government Accountability Office, found that certification of the private spacecraft for flying astronauts to the International Space Station may be delayed to December 2019 for SpaceX and February 2020 for Boeing due to technical concerns.

Technology reporter Eli Horowitz can be reached at ehorowitz@labusinessjournal.com. Follow him on Twitter @coachhorowitz13 for the latest in L.A. tech news.

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