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Los Angeles has long been in San Francisco’s shadow when it comes to life sciences investment. But a new venture capital firm led by industry veterans is trying to cast the City of Angels in a new light. Westlake Village BioPartners is launching today with $350 million in committed capital. The Los Angeles-based firm is led by managing directors Beth Seidenberg, a former general partner at venture capital firm Kleiner Perkins, and Sean Harper, the outgoing executive vice president of research an
Alex Canter knows the restaurant business. The scion of Los Angeles’ famous first family of the deli business — the owners of the eponymous Canters restaurant — Canter has been in the food business longer than many seasoned restauranteurs twice his age. While some people had a Bar Mitzvah party, the thirteen year old Canter had section four of his family’s restaurant.
Century City-based geolocation data provider Factual Inc. announced Sept. 5 it raised $42 million in a financing round led by Upfront Ventures and Felicis Ventures. This most recent round brings the company’s total funding to $104 million, according to a company press release.
A version of this article previously appeared in The Wall Street Journal. What would you do if you opened a UPS envelope and there was nothing inside? A scrappy startup inadvertently answered this question when they accidentally mailed several hundred empty UPS envelopes. Note: the company has asked to remain anonymous, as they don’t want to alert their competitors to the success of their Stealth Campaign.
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.
Each decision you make to commit resources – your money or your use of corporate or personal time – affects the future value of your business. Minor decisions, such as replacing employees who have left the company or replacing equipment needing updating, are usually considered operational in nature, and unless the business is changing direction, not relevant to this test.
People like to say that brick-and-mortar retail is dead, but direct-to-consumer businesses continue to dabble with physical stores all the same. Why? Because brick-and-mortar retail provides businesses with benefits an online shopping platform can’t , namely consumer experiences that create and sustain shopper’s relationships with brands. .
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It appears the puff of marijuana inhaled by Elon Musk last night on a podcast has drawn in Los Angeles-based SpaceX and one of its big customers--the U.S. Air Force--according to reports on Friday. Sources said that the U.S. Air Force has launched an inquiry into the highly public drug usage. Even though recreational and medicinal use of marijuana is legal in some states--including California--the U.S. prohibits the use of marijuana by a current U.S.
Entertainment has changed. New platforms led by YouTube have emerged to change the dynamic of broadcast media — once dominated by the rigid programming of TV — while the internet has enabled new media stars to engage with their audiences in new, high-touch ways. Developments like live streaming, social media and more have made the stars of today more relatable and more easily reachable than those of yesteryear.
Wilshire-based NantWorks, a diversified holding company run by Patrick Soon-Shiong, announced Sept. 6 it invested an undisclosed sum into Daybreak Game Co., creating through the investment a joint venture titled NantG Mobile.
Elon Musk , the technology mogul behind Los Angeles-based SpaceX and The Boring Company --already under fire by investors at Tesla Motors for his recent inconsistent, public statements--boldly took a puff of marijuana on a YouTube broadcast on the Joe Rogan Experience on Thursday evening. The controversial move follows what has been a tumultuous time for Musk's public company, Tesla Motors, after a continuing controversey over Musk's public fued with one of the divers in the Thai soccer team res
A critical stage for most first-time entrepreneurs is getting their idea developed into at least a prototype to validate their technology. This process costs money, which professional investors are not willing to contribute, since their interest is in scaling a proven product and business model into a growth business. Investors want potential for a large and timely return, with reduced risk.
Irvine-based Quality Systems announced early Friday morning that it has officially changed its name to NextGen Healthcare , and also wil change its current symbol on the Nasdaq from QSII to NXGN. The change will go into effect on September 10th. NextGen Healthcare, which develops electronic health records software, was previously a subsidiary of Quality Systems.
The critical success factors for a product business are well known, starting with selling every unit with a gross margin of 50 percent or more, building a patent and other intellectual property, and continuous product improvement. If your forte is a service, like consulting or web site design, it’s harder to find guidance on what will get you funded, and how you can scale your business.
Santa Monica-based Headspace Inc., a developer of a meditation app used by millions, has acquired Alpine Inc., a developer of artificial intelligence conversation platforms based in San Francisco.
Santa Monica-based GumGum Sports , the arm of GumGum which develops technology to measure the social media value of sponsorships for sports teams, says it has just signed the NHL's Columbus Blue Jackets as a new customer. According to GumGumSports, they are in a multi-year partnership where the Blue Jackets will use its full valuation suite. Financial details of the win were not announced.
It may not be as sexy, but starting a new business which builds on an existing technology or business model is usually less risky than introducing that ultimate new disruptive technology. There are many levels of innovation that go beyond copying someone else’s idea, but stop short of pushing the leading edge (bleeding edge). Many of the major business successes started this way.
Los Angeles-based NantWorks , the investment arm of billionaire Dr. Patrick Soon Shiong, said on Thursday afternoon that it has made a strategic investment in San Diego-based multiplayer online games developer Daybreak Game Company. Size of the investment was not announced. As part of that investment, NantWorks said it has created a new joint venture called NantG Mobile , which will develop and publish mobile version of Daybreak's current games.
Every entrepreneur I meet in my role as a small business advisor dreams of making the business run like clockwork, even without them. You are all frustrated when that never happens, even after years of 16-hour days, repeated efforts to hire the right people, and multiple campaigns to delegate more and sign up for less. There is no time for fun, and vacations never happen.
Meditation app Headspace acquires artificial intelligence conversation developer; geolocation data company Factual raises $42 million; Netflix hires former Disney executive as head of global products
The U.S. Department of Justice has charged a North Korean programmer with coordinating the devastating, 2014 attack on Sony Pictures Entertainment , along with a whole host of other cyber-attacks across the world. According to criminal charges announced by the Justice Department , Park Jin Hyok (a/k/a Jin Hyok Park and Pak Jin Hek) coordinated the efforts of a North Korean hacking team, which not only was respondible for the devastating attack on Sony Pictures, but also the WannaCry 2.0 ransomwa
Entrepreneurs seem to have blinders on when looking at competitors. Generally they are so focused on killing competitors that they fail to see the positive potential of a strategic partnership or some other type of collaborative relationship. Sometimes you have to put aside the emotion and the passion, and just look at what is best for your business.
Santa Monica-based Ordermark , a developer of online ordering management software and systems for the restaurant industry, has raised $9.5M in a Series A funding. The funding was led by Nosara Capital, and also included Vertical Venture Partners, Techstars Ventures, Riverpark Ventures, and Matchstick Ventures plus prior investors TenOneTen, Mucker Capital, Act One Ventures and AARD Capital.
If you’re still recovering from a Labor Day hangover or busy searching for the identity of the anonymous writer of the anti-Trump op-ed for the New York Times, you may have missed a few biomedical firsts. This week brought the first sliver of human data from an in-body gene editing procedure, and the results were decidedly undecided (more on that below).
Santa Monica-based Surf Air , the startup, membership-based airline, has raised $9.1M more in the first part of an ongoing funding round, according to a regulatory filing by the company on Thursday. The filing said that the company has raised $9.14M in a targeted $25.0M funding round, with at least four investors participating in the new funding round.
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