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Investment group acquires Yeti
After a year of successfully guiding Angelenos to the best activities and restaurants around town, Yeti announced this week they have sold a majority stake of the company to a group led by Santa Monica’s JA Partners and Seattle’s Edgewater Ventures. Chief Executive and co-founder Alex Capecelatro believed the company was at a stage in which they had to either raise a large round of funding or sell the company. [Yeti Acquired by Investment Group: LA Business Journal]
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Uber, Lyft get green light for LAX
Officials gathered to vote this week on third party ridesharing service's access to LAX and voted in favor of Uber and Lyft. The decision could be implemented as soon as September. In unrelated news, airport traffic will reportedly reach ludicrous levels beginning this fall.... [Uber, Lyft Get Approval for LAX Access: SoCal Tech]
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FameBit begins generating original content
FameBit announced this week they will be launching their own web series, FilterFreeTV. The show is a roundtable discussion feauturing YouTube celebrities that discusses relationships, sex, and other millennial-focused topics. FamBit said this will be the first of many shows they will roll out over the coming year. [FameBit Launches Original Content Effort: SoCal Tech]
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Homejoy ending services
The on-demand home service site announced this week they will be ceasing operations on July 31st. The decision comes after a failed round of funding and legal complications with their employee's worker status. [Homejoy Shuts Doors to On Demand Home Services: SoCal Tech]
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Maker Studios shutting down Blip
Acquired by Maker Studios in 2013, Blip developed, produced, and distributed original content for new video creators. The company is urging users to export thier videos elsewhere before the service shuts down in August. [Makers Studios Shutting Blip: SoCal Tech]
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Readz announces $7.15M, emerges from stealth
In order to streamline online content creation, Woodland Hills-based Readz emerged from stealth this week. The platform requires no coding experience but boasts a more creative platform than other cookie-cutter web generators. Their $7.15 million raise was reportedly gathered over the past four years. [No coding necessary: Readz emerges from stealth, raises $7.15M: Built In]
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FakeCrow rolls out startup organizer Xtensio
After years of helping foster developing startups, FakeCrow rolled out their in-house production tool to the public this week. The platform helps companies understand their target demographic, prepare presentations, and analyze funding rounds. [Do less work and get more done using Fake Crow's newly launched platform: Built In]
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