Yahoo will move its Santa Monica office to Playa Vista this fall
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Yahoo will be joining tech companies like Google, IMAX, Microsoft and Belkin in Playa Vista this fall. The company recently announced it has signed a long-term lease for about 130,000 square feet at the Collective Campus in Playa Vista and will move at least 400 jobs from its current location in Santa Monica. Playa Vista, an underdeveloped airstrip, has been a favorite of tech companies recently for its large office spaces, nearby freeway and lower taxes compared to Santa Monica. [Yahoo will move its Santa Monica office to Playa Vista this fall: LA Times]
Smart-Home business sees utility in water, power
Belkin is venturing deeper into the Internet of Things with a range of new smart home products focused on water and power usage. The company's WeMo Water device can be tied into household plumbing below sinks, behind dishwashers or on irrigation systems, and will help determine where water is being used. The company's WeMo Power device works similarly plugging into outlets to measure what is drawing the most electricity. [Smart-Home Business Sees Utility in Water, Power: Los Angeles Business Journal]
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Sense360 takes in $2.75 million to help app developers make use of phone sensors
Culver City-based Sense360 raised $2.75 million this week to continue developing their sensor technology platform. The $2.75 million round was led by FirstMark Capital, with participation from David Tisch, SeamlessWeb founder Jason Finger, and more. Funding will also boost hiring. [Sense360 takes in $2.75 million to help app developers make use of phone sensors: VentureBeat]
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Gem develops new full-service wallet for expresscoin
Venice-based Gem and Santa Monica-based Expresscoin announced this week they've teamed up. Financial details of the deal were not disclosed. The wallet will initially power internal accounts and operations, and eventually power co-branded end-user wallet with Gem’s multi-signature security solution. Expresscoin previously required its users to bring their own wallet to retailers' websites. [Gem develops new full-service wallet for expresscoin: CoinReport]
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The Mobile Majority acquires Brazil's Elastic
Santa Monica-based The Mobile Majority has acquired Brazilian web development company Elastic. The deal is reportedly between $3 million to $7 million. The Mobile Majority will be expanding to three more cities and doing extensive hiring. [The Mobile Majority Acquires Brazilian Company: SoCal Tech]
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The Black Tux raises $10 Million for its deluxe suit rental business
Online tux rental business, The Black Tux, has just raised a $10 million round. Since raising its $2.6 million seed round less than a year ago, the company has been building quickly by expanding its line of products and opening a showroom in Santa Monica. Money from this latest round will be used to further expand the number of suits it offers. The company said it has a wait list of 20,000 to 30,000 for its inventory. [The Black Tux Raises $10 Million For Its Deluxe Suit Rental Business: TechCrunch]
