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Silicon Beach Report Oct. 25: Hyperloop One Raising $250M

Hyperloop One raising $250 million, mobile game-streaming startup Mobcrush raises $20 million, and Snap Inc. sued for trademark infringement.

Hyperloop One Raising $250M

Hyperloop One is in the process of raising up to $250 million in additional financing, reports Forbes. Additionally, Hyperloop One’s internal budget estimates reveal project costs could greatly exceed Elon Musk’s predictions.

Mobile Game-Streaming Startup Mobcrush Raises $20M

Mobcruch, which developed a streaming platform for mobile games, has raised a $20 million Series B round, reports Variety. The company says its platform has about 1 million active users that view games such as “Minecraft,” “Vainglory,” “Clash Royale,” and “Pokemon Go.”

Snap Inc. Sued for Trademark Infringement

Snap Inc., formerly known as Snapchat, has been sued for changing its name, according to the Hollywood Reporter. The plaintiff, software company Snap Interactive, has asked a New York federal judge to prevent Snapchat from officially changing its name, alleging the resulting confusion would irreparably harm its brand.

Technology reporter Garrett Reim can be reached at greim@labusinessjournal.com. Follow @garrettreim on Twitter for the latest in L.A. tech news.

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