Monday, June 2, 2014Disney's Maker Studios Cuts JobsMaker Studios, the online YouTube content network which was recently acquired by Walt Disney, is cutting approximately 10 percent of its staff. The cuts were first reported by Variety. Maker Studios employs around 380 people. Disney said it would acquire Maker in March, in a deal that could be worth north of $900M.
posted on Monday, June 2, 2014(Full story)
Thatgamecompany Raises $7MLos Angeles-based Thatgamecompany, a developer of computer games, has raised $7M in a funding round, the company said last week. The funding came from Capital Today, and also included Benchmark Capital and Kleiner Perkins Caufield & Byers. The company is as spinout of Sony Santa Monica Studio. The company says it is in the midst of developing "Journey", which is based on a series of titles of a similar nature ("Cloud", "flow", "Flower", "Journey") for the PlayStation 3.
posted on Monday, June 2, 2014 (More)(Full story)
Broadcom Seeks To Sell Cellular Broadband BusinessIrvine-based Broadcom announced Monday that it is seeking "strategic alternatives" for its cellular baseband chip business. According to Broadcom, it has engaged investment banking firm JP Morgan on an effort, and plans to either sell or wind down that business. Broadcom said the move would help reduce its annualized GAAP research and development, and selling, general and administrative expenses by approximately $700M. The company said it is hoping to invest a portion of those costs into its Bro (More info...)
posted on Monday, June 2, 2014(Full story)
PayLease Finds Funding From Francisco PartnersSan Diego-based PayLease, which provides online payments for the property management industry, has scored a round of private equity funding from Francisco Partners. Size of the investment was not announced. PayLease, which is led by Dave Dutch, lets multi-family, single family, HOA, and commercial property managers accept online payments. PayLease said its existing investor, Mainsale Partners--plus its founders and management--will continue to hold an ownership stake in the company. PayLease was (More info...)
posted on Monday, June 2, 2014 (More)(Full story)
Sente Secures $5M For Skincare AestheticsSan Diego-based Sente, an aesthetics medicine company focused on skincare, said this morning that it has raised $5M in a Series C financing round. The funding was led by PharmaBio Investments, and also included existing and new, individual investors. The company said the funding will go towards expanding sales and marketing. Sente said it is working on a dermal repair cream formulated with low molecular weight heparan sulfate, which it says helps promote cell renewal, facilitates new collagen de (More info...)
posted on Monday, June 2, 2014 (More)(Full story)
Entrepreneurship In The LA Mayor's Office, With EIR Krisztina HollyLast month, Los Angeles Mayor Eric Garcetti created a new program, aimed at growing, assisting and sustaining entrepreneurs in Los Angeles. The new "Entrepreneur-in-Residence" program has appointed its first, two, EIRs--Krisztina "Z" Holly and Amir Tehrani.--both of whom are working on independent efforts in the area of bringing the city closer to entrepreneurs. We spoke with Kristztina "Z" Holly--most recently, Vice Provost for Innovation at USC--about what Mayor Garcetti's EIR program is all a (More info...)
posted on Monday, June 2, 2014(Full story)
MOG Shuts Doors, Users Finally Shifted To Beats MusicOnline music service MOG, the online music streaming service acquired by Beats Electronics two years ago to form the basis of its new Beats Music streaming audio service, has finally shut down, and redirected all of its users to Beats Music. Beats Electronics had purchased MOG back in July of 2012, as its was ramping up its efforts to create its own, streaming music service--the service which eventually became Beats Music. Beats apparently got quite a bargain for MOG, paying merely $14M for the (More info...)
posted on Monday, June 2, 2014(Full story)
Upfront Backs Grove Labs For One-Touch Farming AppliancesLos Angeles-based venture investment firm Upront Ventures is the lead investor in Grove Labs, a startup developing automated, smartphone-controlled appliances which automatically grow food for consumers at the touch of a button. According to Grove Labs, it raised $2M in its seed funding round, led by Upfront Ventures, and which also included Gary Vaynerchuck via his fund, Vayner RSE, Felicis Ventures, Galvanize VC, and Tim Ferriss. Upfront's investment in Grove Labs was led by Yves Sisteron. Gro (More info...)
posted on Monday, June 2, 2014 (More)(Full story)
Kite Pharma Names New R&D HeadSanta Monica-based biopharmaceuticals firm Kite Pharma, which is developing products for the treatment of cancer, said today that it has named David D. Chang, M.D., Ph.D., as its new Executive Vice President, Research and Development, and Chief Medical Officer. Chang was most recently at Amgen, serving as Vice President of Global Development and Head of Hematology-Oncology. Chang had been at Amgen since 2002, and previously had been associate professor of medicine and of microbiology, immunology (More info...)
posted on Monday, June 2, 2014(Full story)
OneRoof Energy Launches Bundled Energy ProgramSan Diego-based solar leasing provider OneRoof Energy is taking a new angle on the solar installation and leasing market in Massachusetts, one of the new markets the company has recently expanded into, by bundling solar power service and its solar leases. OneRoof Energy said it has partnered with Choose Energy to bundle residual energy usage--worth up to $2,000 for the first 24 months--when Massachusetts homeowners install solar energy on their homes using OneRoof's solar leases. OneRoof said th (More info...)
posted on Monday, June 2, 2014(Full story)