Sat.Nov 21, 2020 - Fri.Nov 27, 2020

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Tech Companies Continue to Bulk Up in LA, Driving Job Growth

L.A. Business Journal

Tech jobs are growing at a rapid clip in Los Angeles, fueled by an increasing appetite from local companies as well as industry leaders that are expanding their presence here.

Company 334
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LA-based Boulevard raises $27 million for its spa management software

TechCrunch LA

Boulevard , a spa management and payment platform, has raised $27 million in a new round of funding despite a business slowdown caused by the COVID0-19 pandemic. Founded four years ago by Matt Danna and Sean Stavropoulos, Boulevard was inspired by Stavropoulos’ inability to book a haircut and Danna’s hunch that the inability of salons and spas to cater to customers like the busy programmer could be indicative of a bigger problem.

Software 323
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Is it your brilliant plan or your execution?

Berkonomics

Mike Tyson: brilliant business savant. “Everybody’s got a plan – until they are punched in the face,” famously stated boxer Mike Tyson. My experience personally reviewing over three hundred executive summaries each year, all sent to me unsolicited, seems to bear out the truth in Tyson’s statement. Anyone can build a good – or great – plan. Investors have to look behind the plan and at the entrepreneur and his or her team, knowing that, over time, most of us have come to the conclusion th

Summary 156
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Snap Launches TikTok Rival, Spotlight

socalTECH

Venice-based Snapchat launched a new feature on Monday morning, called Spotlight/a> , which encourages its users to share their own, user-created videos. The new feature is aimed squarely at TikTok , and is being backed by an enticement of $1M a day being paid out to users who share the most popular clips to the service. The new feature is similar to both TikTok and Instagram's Reels.

Snapchat 147
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Can You Ask for Office Rent Relief? How to Manage Your Lease During COVID-19

Office leases are one of companies’ largest expenses, and if your whole team is working from home with no clear end in sight, you may be wondering what to do about your lease.

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Vurbl Wants to Outdo Spotify. Can It Become the YouTube of Audio?

L.A. Business Journal

There’s no shortage of audio streaming apps, but Santa Monica-based startup Vurbl Media Inc. is betting that its newly launched player can compete with established platforms like Spotify.

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HMBradley raises $18.25 million planting a flag as LA’s entrant into the challenger bank business

TechCrunch LA

With $90 million in deposits and $18.25 million in new financing, HMBradley is making moves as the Los Angeles-based entrant into the challenger bank competition. LA is home to a growing community of financial services startups and HMBradley is quickly taking its place among the leaders with a novel twist on the banking business. Unlike most banking startups that woo customers with easy credit and savvy online user interfaces, HMBradley is pitching a better savings account.

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Relativity Space Confirms $500M Funding

socalTECH

Los Angeles-based 3D printed rocket developer Relativity Space has closed $500M in Series D funding, the company disclosed Monday morning, saying it will use the new funding to accelerate commercialization, production scaling, and its long term development. The company--which is developing technology to print an entire rocket with industrial, metal 3D printers--says the funding was led by Tiger Global Management with participation from new investors Fidelity Management & Research Company LLC

Funding 124
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For SpaceX, Latest Launch Is a Big Leap

L.A. Business Journal

Space Exploration Technologies Corp. launched one of the highest-profile missions in the company’s nearly two-decade history on Nov. 15, sending four astronauts to the International Space Station.

SpaceX 264
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COVID-19 Safety Guide For Reopening Businesses in LA

AllTopStartups

With cases of Covid-19 reaching the 1 million mark milestone in California and showing no signs of slowing, businesses which have remained closed during the pandemic may be looking to… The post COVID-19 Safety Guide For Reopening Businesses in LA appeared first on AllTopStartups.

Guide 64
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6 Tips On Where And When To Look For Startup Funding

Startup Professionals Musings

One of the biggest myths I have found in the entrepreneur community is that every startup needs one or more outside investors for credibility and success, and perhaps is even entitled to at least one. They don’t realize that according to statistics from Startup.co , almost 60 percent are funded with personal savings and credit, and another 25 percent get their money from friends and family.

Funding 173
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Omniome Names CEO

socalTECH

San Diego-based Omniome , a startup developing DNA sequencing technology, announced this morning that it has named Robert Wicke as the company's CEO and member of the board. Wicke was most recently CEO of Halo Labs, and also has served at ForteBio, Pall Corporation, Molecular Devices and Axon Instruments. READ MORE>>.

San Diego 124
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Tech Companies Continue to Bulk Up in LA, Driving Job Growth

L.A. Business Journal

Tech jobs are growing at a rapid clip in Los Angeles, fueled by an increasing appetite from local companies as well as industry leaders that are expanding their presence here.

Company 242
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4 Reasons Why Organizations Should Leverage Fiber Optic Cable Wavelength Services

Southern California Edison Blog

Fiber optic cable wavelengths allow organizations to streamline data transfers and increase bandwidth speed, helping them plan for future growth. For businesses with specific speed, security, and configurability needs, wavelength-based networks are a good fit, enabling them to effectively and safely handle large amounts of mission-critical or sensitive data.

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5 Equity Crowdfunding Reflections Before You Sign Up

Startup Professionals Musings

With the advent and growth of crowdfunding over the past few years, many entrepreneurs have predicted the demise of those demanding angel investment groups and venture capital organizations. In fact, the latest figures show that crowdfunding globally is expected to reach $114 billion by 2021, exceeding the amounts contributed by either angel groups or VCs alone.

Equity 164
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Zappos Founder Tony Hsieh Dead At 46

socalTECH

Tony Hsieh , the founder of Zappos--and a big angel investor in Southern California startups-- has died, at the age of 46 , according to Las Vegas media. Details on the death have not been released. Hsieh had made investments in such local Southern California companies as Combatant Gentleman, uBeam, Stir, Quarterly Co., Ecomom, JetSuite, and many others, and was well known among Southern California's high tech, venture capital, and angel community.

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Snap Takes on TikTok With New Spotlight Video Feature

L.A. Business Journal

Snap Inc. rolled out a new feature for its Snapchat app that will showcase user-made videos and provide financial rewards for creators of viral content.

Snapchat 162
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Bobacino Brings Automation to Trendy Bubble Tea

L.A. Business Journal

As the restaurant industry embraces new forms of high-tech automation, a local startup is applying robotic technology to the trendy bubble tea business.

High Tech 162
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Aerospace Incubator Starburst Is Lifting Industry in LA

L.A. Business Journal

In the five years since French space and defense technology accelerator Starburst Aerospace announced plans to open its first American office in El Segundo, the aerospace industry has grown rapidly in Los Angeles County.

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For SpaceX, Latest Launch Is a Big Leap

L.A. Business Journal

Space Exploration Technologies Corp. launched one of the highest-profile missions in the company’s nearly two-decade history on Nov. 15, sending four astronauts to the International Space Station.

SpaceX 130
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6 Tips To Avoid Being Blindsided By A New Competitor

Startup Professionals Musings

Every entrepreneur and business executive knows that continuous innovation is required to survive, but most struggle with this more than any other challenge they face. They know they need to act proactively, but still are often blindsided by a new competitor coming out of the blue with a future they never imagined. Innovation driven by the next crisis is not leadership.

Tips 160
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TikTok Gets Another Extension for US Sale

L.A. Business Journal

The Treasury Department has reportedly pushed back TikTok’s sell-by date once again, giving the company until Dec. 4 to complete a deal.

Sales 147
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6 Business Practices That Will Verify You As A Leader

Startup Professionals Musings

In these difficult days of the pandemic, the visibility of leadership in business, as well as politics, seems to be at an all-time low. In my view as a business advisor, it’s an ideal time for aspiring entrepreneurs and small business owners to get ahead of the crowd by driving an innovative solution to a painful problem with the passion, perseverance, and work ethic I see every day.

Coach 144
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Parallel Agile Rolls Out Object Oriented Coding App, CodeBot UX

socalTECH

Los Angeles-based Parallel Agile , a developer of software focused on the Agile coding market, says it has rolled out a new product, CodeBot UX. The company says the new software helps create user interface software, generating database schema, API documentation, server-side code, client-side code including domain classes, CRUD functions and usage examples all from object oriented modeling (UML).

Class 113
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Faraday Future Joins New Electric Vehicle Group

socalTECH

Los Angeles-based electric vehicle manufacturer Faraday Future has joined as the founding member of a new group that is looking to accelerate the transition to electric vehicles. According to Faraday Future, it has joined the Zero Emission Transportation Association (ZETA) , as a founding member, joining 29 other companies as part of the new group, which is pushing for 100 percent electric vehicle sales by 2030.

Sales 113
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Clearlake's Zywave Buys Insurance Technologies Corporation

socalTECH

Santa Monica-based private equity investor Clearlake Capital Group said this morning that one of its portfolio firms, Zywave , has acquired Insurance Technologies Corporation (ITC). Insurance Technologies Corporation is a provider of marketing, rating, and agency management software for the insurance industry. ITC was previously owned by another, private equity investor, Accel-KKR.

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Credit Key Gets $33.85M

socalTECH

Los Angeles-based Credit Key , a startup which helps e-commerce merchants offer up instant point-of-sale financing to customers, has raised $33.85M in its Series A funding. The funding came from Greycroft, Bonfire Ventures, Loeb.nyc, and other investors. The startup--led by startup veteran John Tomich--integrates with e-commerce payment systems, appearing as a payment option at checkout.

Commerce 113
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Quid Connects With $320M For Private Liquidity Fund

socalTECH

Santa Monica-based Quid , which offers up a way for private company employees to gain liquidity even before their startups are purchased or have an initial public offering, said on Monday that it has raised $320M in a second fund. According to the company, the new fund will go to provide liquidity and option exercise loans for private company employes.

Funding 113
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Morse Micro Connects With $13M More

socalTECH

Irvine, California- and Sydney, Australia-based Morse Micro , which is developing Wi-Fi chips aimed for use in Internet of Things (IoT), has raised $13M more in a funding round, the company said very late Monday evening. The startup said the funding came from Blackbird Ventures, Main Sequence Ventures, Clean Energy Innovation Fund, Skip Capital, and Ray Stata.

Funding 113
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HMBradley Earns $18.25M For Online Banking Service

socalTECH

Los Angeles-based fintech startup HMBradley , which offers up online, digital bank accounts which pay interest based not on a user's balance, but on what percentage of their direct deposits they are saving, has raised $18.25M in a Series A funding. The funding was led by Acrew Capital. The company offers up 3 percent APY for depositors who save at least 20% of their direct deposits to the bank, down to just 0.5% for those saving 5%.

Services 113
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WELL Health Gets $45M

socalTECH

Santa Barbara-based WELL Health , a startup which offers up patient communications tools to healthcare providers, payers, and others, has raised $45M more in a SEries C funding round, the company said this week. The funding was led by Lead Edge Capital, and also included Martin Ventures, the healthcare-focused venture capital firm founded by executive, investor, and entrepreneur, Charlie Martin, and existing investors Jackson Square Ventures, Health Velocity Capital, Summation Health Ventures, S

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Newegg Launches Black Friday Sales

socalTECH

Los Angeles-based electronic products retailer Newegg said on Monday that it is kicking off its Black Friday deals today, through midnight on Cyber Monday a further indication of how the holiday shopping season has blurred into a continuous stream of promotions that now start, in many cases, in October. Newegg says it will offer up savings on its "most sought-after" tech gifts for eigh days.

NewEgg 113
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MeUndies Snags $40M For Underwear Brand

socalTECH

Los Angeles-based online underwear, sleepwear, and loungewear brand MeUndies has scored a big, $40M funding round, the company announced on Monday, from private equity investor Provenance. According to MeUndies, the new funding will go to expand product design, production, and distribution, as well as building its online customer community and expansion.

Equity 113
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Boulevard Finds $27M More For Salon Software

socalTECH

Los Angeles-based Boulevard , which develops software to help salons manage their business operations, has raised $27M more in a Series B funding, the company announced on Monday. The funding was co-led by Index Ventures and Toba Capital, and also include VMG Partners, Bonfire Ventures, Ludlow Ventures, and BoxGroup. According to Boulevard, it will use the funding to expand its team and platform.

Software 113
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TP-Link Rolls Out New Routers At Costco

socalTECH

Brea-based networking products maker TP-Link said today that it has rolled out two new Wi-fi routing products at Costco. According to TP-Link, its new Deco X5700 Tri-Band Mesh Wi-Fi 6 System and the Archer AX3200 Wi-Fi 6 Tri-Band MU-MIMO Router are exclusive to Costco, and offer up high speed Wi-Fi 6 support; The Deco X5700 provides "mesh" support to help eliminate WiFi dead spots in a home, for coverage of up to 6000 square feet.

Product 113
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Snap Buys Voisey

socalTECH

Venice, California-based Snap , the parent company of Snapchat has reported acquired Voisey , the developer of an app which lets users overlay their voice on top of existing music tracks. Financial terms of the acquisition were not announced, and so far, Snap and Voisey have not made any comments on the acquisition, which were uncovered in business filings by Business Insider.

Snapchat 113
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Maravai Lifesciences Sees Successful IPO

socalTECH

San Diego-based Maravai Lifesciences , a provider of life sciences reagents and services to the biotech industry, saw a successful IPO last week, raising $1.62 billion in its IPO on the NASDAQ Global Market. The company--which now trades as MRVI--was backed by private equity investor GTCR. The company's stock rose more than 18% in its IPO debut on Friday, even after a debut of $27.00 per share, at the top end of its already increased IPO estimated range of $24.00 to $27.00.

San Diego 113