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The Rubicon Project to buy Chango
The Rubicon Project announced this week it is in agreement to purchase Chango, an online intent marketing business, for $122 million. [Rubicon Will Buy Chango to Go After 'Intent Marketing' Dollars: Los Angeles Business Journal]
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Nestdrop turns to crowdfunding to battle legal fees
Nestdrop, a provider of alcohol and medical marijuana delivery, is trying to raise $70,000 in crowdfunding via GoFundMe. The funds will be used to appeal an injunction filed against its medical marijuana delivery service. [Pot Delivery Firm Crowdfunds for Legal Defense: Los Angeles Business Journal]
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Local VCs launch advocay think tank
Dana Settle, co-founder of Greycroft Partners, and Joseph Sanberg, co-founder of Aspiration.com and Pt Capital, are assiting in the launch of Economic Innovation Group, a Washington, D.C.-based think tank. The Economic Innovation Group will strive to bring entrepreneurial mindsets to public policy discussions. [Two LA Venture Capitalists Help Launch Think Tank: Los Angeles Business Journal]
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AvantCredit rebrands, acquires and moves San Francisco-based ReadyForZero to LA
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How to dine and dash and not be a thief: Cover launches locally
After success in New York and San Francisco, Cover, a mobile app that enables diners to pay for their meals without waiting for a check, has launched in L.A. Founded in 2012, the startup has partnered with 30 of the top local restaurants, including Republique, Kendall’s Brasserie and Bar, and Porta Via. Mark Egerman, co-founder of Cover, said the company works with 175 restaurants in New York and 75 in San Francisco. L.A. was chosen as the third market partly because of its “incredible dining scene,” Egerman said. [Built In LA]
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AssetAvenue raises $4M
AssetAvenue, an L.A.-based online real estate crowdfunding site, raised $4M, according to a filing on Tuesday. Matrix Partners, NetEase, and Launchpad LA are among the investors, according to the form. [AssetAvenue Brings Funding To $4.0M: Socaltech.com]
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Shutterstock
InstaBrand closes $2.5M Series A round
InstaBrand, the leading mobile influencer marketing platform and technology startup founded in 2013, announced today the closing of a $2.5 million dollar Series A funding to make influencer marketing scalable. Additionally, InstaBrand brings on Relativity Digital president, Randall Cox and Adly co-founder and Tinder vice president of advertising products, Brian Norgard as new members to its Advisory Board.
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