Monday, January 16, 2017


Report: Snapchat Founders Will Retain Voting Power In IPO
A report on Monday says that Evan Spiegel and Bobby Murphy, the founders of Venice-based Snap Inc., the parent company of Snapchat, will retain majority voting control of the company, even after the IPO. According to the WSJ, Spiegel and Murphy are expected to keep more than 70 percent of the voting power in Snap Inc., via an IPO which will offer less powerful voting shares to investors. The report cited "people familiar with the matter" in the yet-to-be-filed IPO, which is among the most antici (More info...)
posted on Monday, January 16, 2017(Full story)

SPACES Gets $6.5M For Virtual Reality Theme Park Efforts
Playa Vista-based SPACES, a developer of virtual reality technology aimed at the theme park industry, announced last week that it has raised $6.5M in additional seed funding. The funding was led by Chinese theme park operator Songcheng Performance Development, and also included Comcast Ventures, along with Boost VC, Colopl VR fund, GREE Inc., Kai Huang, The Venture Reality Fund, Youku Global Media Fund, and CRCM VC. The company said the new funding will go towards buildling VR-enabled theme park (More info...)
posted on Monday, January 16, 2017(Full story)

SpaceX Successfully Returns To Space
Hawthorne-based SpaceX successfully returned to space on Saturday with a launch from Vandenberg Air Force Base, launching ten Iridium satellites into orbit, and successfully landing the first stage of the rocket an its barge at sea. The SpaceX Falcon 9 lifted off from Vandenberg at 9:54 a.m. on Saturday, and was the first launch for the space rocket developer since a catastrophic failure in September. That failure has been traced to the failure of a high pressure helium vessel in the Falcon 9's (More info...)
posted on Monday, January 16, 2017(Full story)