Wednesday, September 18, 2013Machinima Cuts 10 Percent MoreLos Angeles-based YouTube network Machinima announced Wednesday afternoon that it has laid off 10 percent of its employees, or 22 employees out of a current staff of 206, as part of a shift in its programming plans. The company said the layoffs come as part of an "increased commitment to premium programming". Machinima has apparently been looking for a big funding round in recent months. The layoff is not the first for Machinima, which also cut around 10 percent of its staff back in December.
posted on Wednesday, September 18, 2013(Full story)
Autobytel Invests In AutoWebIrvine-based online auto information and leads site Autobytel announced Wednesday afternoon that it has invested $2.5M in AutoWeb, a new, pay-per-click automotive advertising marketplace. Autobytel said it also has the option to invest an additional, $2.5M in AutoWeb as it grows. As part of the deal, AutoWeb also acquired the AutoWeb trademark and domain name from Autobytel, for $1.5M in AutoWeb stock. Autobytel says that as a result of the investment, it now owns approximately 16% of AutoWeb, a (More info...)
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Amp Launches Sustainability Guide Into BetaSanta Monica startup Amp, led by Sarah McKinney, has launched its service into beta, saying that it is looking to help students and professionals find information on sustainability resources. According to the startup, it lets users discover resource around environmental and social progress, allowing for discovery, ratings, and reviews of everything from news sources, to conferences, and more in the areas of environmental and social areas. The startup says it wants to create a "Yelp for sustainab (More info...)
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Hulu Adds 170 Episodes Of Doctor Who, Huge Collection Of Other BBC TitlesLos Angeles-based streaming television site Hulu has just injected a huge amount of content into the service, including Doctor Who, Top Gear, Falty Towers, and much more. According to Hulu, it will begin carrying a very long list of BBC titles on Hulu Plus. Hulu will be rolling out the titles over the coming weeks, starting today with more than 170 episodes of the Doctor Who series. Doctor Who is the longest running television series, and is on the eve of its 50th anniversary. The deal also inc (More info...)
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Ecotality, Car Charging Competitor To Aerovironment, Files For BankruptcyEcotality, one of the competitors of local car charging developer Aerovironment, has filed for Chapter 11 bankruptcy, after facing issues with locating long term financing. Ecotality makes the Blink and Minit Charger brands of charger for electric cars, which competes against Monrovia-based Aerovironment's EV Solutions unit. According to Ecotality, it has a number of bidders who have expressed interest in buying the company's assets; it's unclear in Aerovironment has put in a bid for the competi (More info...)
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DOE To Offer Up Fisker's Loan Obligations In AuctionThe U.S. Department of Energy is looking to unload the loan obligations of beleagured Fisker Auto--if it can manage to find any willing buyers. The Department of Energy announced today that it was auctioning off the remainder of the $192 million loan it provided to Fisker Automotive through the department's auto loan efforts, after "any realistic possibility for a sale that might have protected our entire investment." The DOE had originally offered up $528M to Fisker for its efforts to start man (More info...)
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Slacker Debuts iOS 7 AppSan Diego-based online music service Slacker jumped on the release of iOS 7 today, saying it has launched a new mobile app specifically designed for the Apple iOS upgrade. Slacker said the new app includes a new "My Vibe" feature which matches a user's mood and activity to hundreds of playlists; and a new interface specifically streamlined for iOS 7.
posted on Wednesday, September 18, 2013(Full story)
Tongal To Crowdsource Feature Film
Los Angeles-based video crowdsourcing site Tongal is making a big move into feature films, saying yesterday that it has begun crowdsourcing a documentary, feature film on the site. The company--which has had a lot of success using its crowdsourcing process and technology for commercials--said it has launched the documentary feature film effort in partnership with Spitfire PIctures, the company behind such films as Undefeated, Foo Fighters: Back and Forth, and Martin Scorsese's music documentar (More info...)
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LA's Karlin Ventures Leads Investment In StrikeAdLos Angeles-based venture capital investor Karlin Ventures is the lead investor in mobile advertising firm StrikeAd. StrikeAd, which is based in New York City, said it raised $7M in a funding round, which was led by Karlin Ventures, and also included DFJ Esprit, Softech VC and Siemer Ventures, along with Canyon Creek Capital and Scentan Ventures. Karlin's investment into StrikeAd was led by TX Zhuo. StrikeAd said it also received growth debt from Kreos Capital with the funding. StrikeAd now has (More info...)
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eHarmony Plans Rose Bowl Float With Natalie ColeSanta Monica-based online matchmaking site eHarmony is continuing its big marketing push, saying this morning that it will be featuring a float for the 2014 Rose Parade. eHarmony--which is in the midst of a big marketing and advertising push--said that its float will feature musician Natalie Cole. eHarmony founder Dr. Neil Clark Warren lives in Pasadena, and eHarmony was founded in the city. The float will center around Cole's hit 'This Will Be (An Everlasting Love)'. Details on how much eHarmon (More info...)
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Aerie Pharmaceuticals Files For IPOAerie Pharmaceuticals, a biopharmaceuticals firm which has a major center in Newport Beach, has filed for an IPO, saying in a filing with the SEC that it is looking to raise up to $57.5M on the NASDAQ Global Market. The company says it plans to list as AERI. The IPO is being underwritten by RBC Capital Markets, Stifel, Lazard Capital Markets and Canaccord Genuity. Aerie Pharmaceuticals is venture backed by ACP, Clarus Lifesciences, Sofinnova Venture Partners, TPG Biotech, and others. The compan (More info...)
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IDrive Aims At Healthcare Provider With Cloud Backup ServiceLos Angeles-based cloud backup service IDrive is aiming its service at the healthcare industry, saying yesterday that it has is prepared to meet all HIPAA compliance requirements for its backup service, as part of a deadline this month to meet regulations. IDrive said it is working with customers on HIPAA business associate agreements to meet the requirements for the healthcare industry, and that it is offering private key encryption, 256-bit AES encryption, and has passed audits which meet thos (More info...)
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