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in an equity funding round. Scott Painter is the CEO of TrueCar/Zag, and was also previously CEO of CarsDirect, and has been incubating a number of companies out of his Santa Monica-based BrightHouse incubator. No details on that funding have been announced by the company. SharesPost had originally been based in Santa Monica.
Los Angeles-based Zag , the online car buying software firm headed by former CarsDirect CEO Scott Painter, has scored an investment from financial services firm USAA , USAA disclosed Thursday. According to USAA, it is taking an equity position in Zag, which is also providing the firm with its car buying services. READ MORE>>.
Funding is different – In Silicon Valley you have mega venture capital funds and many of them. Side note: LA seems to have had some success in mega deals led by private equity firms as evidenced by DemandMedia and Chris DeWolf’s latest company backed by more than $20 million in private equity.
Yesterday, Santa Monica-based SharesPost (www.sharespost.com) launched a new service of particular interest to the venture capital and high tech startup market, a new, online service which facilitates the buying and selling of private company stock. We co-founded Zag together, and I was the COO of CarsDirect.
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