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Napster Going To Rhapsody, Says Report

socalTECH

A report today says that Napster , the online music service now owned by Best Buy, is being sold to Rhapsody. Los Angeles-based Napster was acquired by Best Buy in September of 2008 in a deal which was worth net value of approximately $54M. READ MORE>>.

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Demand Media Reports Profit

socalTECH

Santa Monica-based Demand Media , the internet publishing firm headed by Richard Rosenblatt, reported its fourth quarter and fiscal 2010 results today, the first as a public company. The firm also reported net income of $1.0M, versus $3.9M The firm reported net loss of $5.3M in revenues from Q4 of 2009.

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Silicon Beach Report Aug. 24: Net Neutrality Bill Near Passage

L.A. Business Journal

Appetize joins Sidearm Sports; net neutrality bill sent to California assembly; Overwatch League matches broadcast on Twitter

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Southern California Leads In Green Businesses, Says Report

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A new report released today by Next 10 , a nonprofit, nonpartisan public policy group, says that Southern California--and California, as a whole--leads the green innovation, cleantech venture capital, and energy market. The report was compiled by research firm Colaborative Economics.

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Boingo Wireless Reports Quarterly Results

socalTECH

Los Angeles-based Boingo Wireless , the operator of a network of Wi-Fi access points, has reported its first quarterly results as a public company. The firm reported a net loss of $329,000, versus a net loss of $127,000 for Q1 last year. Boingo said it had revenues of $21.0M, up from $18.5M for the first quarter of 2010.

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ReachLocal Grows Revenues By 47 Percent

socalTECH

Woodland Hills-based ReachLocal , the provider of local online marketing services for small and medium sized businesses, reported its results Tuesday, saying that it had $77.1M The firm reported a net loss of $2.8M, compared with net income of $14.9M in revenues. for the quarter.

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Snap Inc. Reports Slow User Growth, Shares Drop More Than 25 Percent

L.A. Business Journal

parent company of Snapchat, reported a net loss of $2.2 billion (-$2.31 a share) during its first quarter as a public company, stemming mostly from stock-based compensation issued to employees for its initial public offering in March.

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