TOP NEWS

LA VR Startup Rodin Heads To Techstars Boulder

Los Angeles-based Rodin, a virtual reality software tools developer founded by Taron Lizagub, Albert Poghosyan and Aram Avetisyan, has been selected as part of the Techstars Boulder startup accelerator, according to Techstars Boulder today. Rodin says is it building an engine that enables developers to create VR apps using just Javascript and deploy those apps to all major VR platforms in a single click....Continue →


Accriva Diagnostics Acquired By Werfen

San Diego-based Accriva Diagnostics, the Sorrento Valley developer of in-vitro blood testing equipment, has been acquired by Spanish company Werfen, via its subsidiary, Instrumentation Laboratory (IL). Financial details of the acquisition were not announced. The deal was announced last week. Accrive Diagnostics was owned by private equity investor Warburg Pincus....Continue →


Faraday Future Sued By Visual Effects Firm Over Unpaid Bills

Los Angeles-based electric vehicle developer Faraday Future is being sued for $1.8 million, by visual effects company The Mill Group, over unpaid bills, according to a lawsuit filed in the Superior Court of the State of California, County of Los Angeles-Central District....Continue →


Hyperloop Transportation Technologies Opening Facility In France

Los Angeles-based Hyperloop Transportation Technologies, one of the two companies in Los Angeles working on advancing Elon Musk's Hyperloop concept for rapid transportation between cities through essentially giant pneumatic tubes, says it is opening up a 3,000-square meter facility in Toulouse, France. The new facility will be at the Francazal Airport, a former military based in Toulouse....Continue →


SCE Plans New Electric Vehicle Push

Southern California Edison said on Monday that it is expanding its efforts to expand electric vehicle transportation in its service area, and has filed a plan to promote electric vehicles with the California Public Utilities Commission (CPUC)....Continue →


Willdan Gets $35M Line Of Credit

Anaheim-based Willdan Group, a publicly traded provider of professional technical and consulting services, reported late Monday that it has received a $35.0M, three year revolving line of credit. The credit agreement was with BMO Harris Bank, N.A. and includes a provision to expand the credit line up to a total of $60.0M on request. Rates on the line of credit were not announced....Continue →


Social Native Adds Ragovin, Elbaz To Exec Team

Los Angeles-based Social Native, which operates a marketplace for connecting brands with content creators, said this morning that it has added Buddy Media co-founder Jeff Ragovin as Chief Growth Officer, and Scopely and Applied Semantics' co-founder Eytan Elbaz as its new Chief Strategy Officer. Ragovin and Elbaz are already major investors in the company....Continue →


Angeles Equity Partners Finds $360M For First Private Equity Fund

Los Angeles-based Angeles Equity Partners, a new private equity investor, said this morning that it has raised $360M in its first private equity fund. The fund, Angeles Equity Partners I, L.P., came from institutional investors, public and private pension plans, endowments, foundations, a sovereign wealth fund, and alternative asset managers, according to the new fund. The new fund was founded by Timothy Meyer and Jordan Katz....Continue →


Interview with Anna Barber, Techstars LA

Techstars (www.techstars.org) has a long history and record of success as a startup accelerator, with programs across the country and world--and recently opened up its third, Los Angeles program, Techstars LA. Techstars recently appointed Anna Barber as its Managing Director, so we thought we'd sit down and get to know Anna better....Continue →


Report: Snap IPO To Be Fourth Biggest IPO In 10 Years

A new analysis of the IPOs from the last ten years, from Geckoboard, says that--if successful--the IPO of Venice, California-based Snap, Inc. will be the fourth largest IPO in the last 10 years, behind Alibaba, Facebook, and JD.com, and ahead of Twitter, VMware, and Renren. Geckoboard said it compared the 100 highest-valued tech companies that went public in the last decade to Snap's rumored IPO valuation....Continue →


Source Photonics Sold By Francisco Partners

West Hills-based optical components maker Source Photonics, which was owned by Francisco Partners, has been sold, to a private equity group led by Redview Capital and Asia-IO, and also including TR Capital, Axiom Asia and Aberdeen Asset Management. Financial terms of the acquisition were not announced. Francisco Partners acquired Soruce Photonics in October of 2010, from MRV Communications. Source Photonics was advised by Evercore and CITIC Securities in the deal....Continue →


Western Digital Names New CTO

Irvine-based Western Digital announced this morning that it has named Martin Fink as its new Chief Technology Officer. Fink was most recently CTO and director of HP Labs at Hewlett Packard Enterprise. He had spent 30 years at HP and HPE. Fink replaces Steven Campbell, who Western Digital said will be departing the company to "pursue other opportunities". Campbell had only been CTO since November of 2015.Continue →



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