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Snap accelerator names its latest cohort

TechCrunch LA

The new batch of startups coming from across the U.S. and international cities like London, Mexico City, Seoul and Vilnius are building professional social networks for black professionals and blue collar workers, fashion labels, educational tools in augmented reality, kids entertainment, and an interactive entertainment production company.

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Lawsuit Targets Snapchat Founders, Venture Investors

socalTECH

A new lawsuit, targeting Venice, California-based Snapchat --the hottest company to emerge out of the area''s high tech startup cluster in recent years--says that the company''s founders stole the idea for the company from him after forcing him out of the company early on in its history. READ MORE>>.

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Report: Snapchat Valued At $10 Billion In New Funding

socalTECH

Venice-based Snapchat is in the midst of raising a new round of funding, led by storied venture capital investor Kleiner Perkins Caufield & Byers, which valued the company at close to $10 billion, according to a report. The report also said that Snapchat has around 100 million monthly active users now using its messaging service.

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The Changing Structure of the VC Industry

Both Sides of the Table

Lower costs to start a business (95% reduction), many more companies created & funded by angels / seed. But it still takes VC to scale a business (thus large capital into industry winners like Uber, Airbnb, SnapChat, etc). Seed funds now represent 67% of all funds being created now, which is up 100% from 6 years ago.

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Snap’s Yellow accelerator debuts its third batch of investments

TechCrunch LA

This morning, Snap joined a host of startup accelerators shifting its demo day online amid the COVID-19 quarantine. With its third class of startups, Yellow, Snap’s in-house startup accelerator that launched in 2018, brought investors and founders together in private slack channels after a live-streamed presentation.

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Star-studded digital avatar startup Genies launches NFT fashion marketplace

TechCrunch LA

Digital avatar startup Genies , known its for high-profile partnerships with celebrities such as Justin Bieber, Migos and Cardi B, has just released its long-anticipated NFT storefront, “The Warehouse.” Eventually, Nigam sees the company expanding into a full-fledged social network, which he said Gen Z is “starving for.”

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Naritiv Raises $3M For Snapchat Content

socalTECH

Los Angeles-based Naritiv , a new startup developing a network of content creators for Snapchat, has raised $3M in a funding round, the company said Thursday. The startup--founded by Dan Altmann and Eric Posen--says it is enabling the creation of mobile-first content for Snapchat and other social network platforms.

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