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Tinder loses new CEO
Christopher Payne, who was appointed CEO of Tinder five months ago, stepped down from the position on Thursday. Founder and former CEO Sean Rad will be reappointed as CEO and Greg Platt, the chairman of Tinder's parent company. The Match Group, will now serve as Executive Chairman. The move came shortly after a scathing article in Vanity Fair that attributed the decline in dating culture to Tinder. [Tinder loses new CEO: SoCal Tech]
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RadPad offering $10,000 for an engineer referral
RadPad CEO Jonathan Eppers announced Wednesday that the company is willing to give a $10,000 referral reward to anyone able to provide them with an engineer. Eppers is making the offer in light of the growing competition in the LA tech market. [RadPad Dangles $10K Bounty For Job Referrals: SoCal Tech]
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Zealot acquires AllScreen
Venice-based Zealot has continued its astounding year of acquisitions today with the purchase of video syndication company AllScreen. This is the digital media comapany's eighteenth acquisition since August 2014. The purchase is a 100% acquisition and is an undisclosed combination of cash and stock. [Zealot expands its digital media empire with 14th acquisition, purchases AllScreen: Built In]
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Classmates sells for $30M
Woodland Hills-based United Online announced Wednesday that they have sold its Classmates subsidiary for $30 million to Intelius Holdings in order to provide additional capital for its other businesses. United Online originally purchased the site in 2004 for $100 million and attempted an IPO in 2007. [United Online Sells Classmates For $30M: SoCal Tech]
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TrueCar CEO Scott Painter to step down
After 11 years as CEO, Scott Painter announced his plans to step down last Thursday. He will stay with the company as chairman, but will no longer be involved with day-to-day activity. The company has begun its search for Painter's replacement as he's expected to vacate the position by the end of the year. [TrueCar’s Scott Painter to Step Down: LA Business Journal]
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Burbank receives its own Coding Dojo
Coding Dojo, which offers 14 week coding development programs, has opened its third location in Burbank. The company has two other locations in Silicon Valley and Seattle and CEO Richard Wang stated that they strategically came to LA due to its growing tech ecosystem. [Coding Dojo Expands To Burbank: SoCal Tech]
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Over 200 LA companies make Inc.'s Top 5000
Inc. released their annual list of the 5000 fastest growing private companies in the U.S. and 277 Los Angeles made the cut. Most notably, the mobile gaming and entertainment network, Scopely landed in the #9 slot and content syndicator AllScreen grabbed the #29 spot. [Over 200 LA companies make Inc.'s Top 5000: Built In]
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