Activision purchases $46M in assets of Major League Gaming
Santa Monica's Activision Blizzard reportedly purchased a majority of the assets of Major League Gaming. The shares of the e-sports league were purchased for $46 million. MLG will operate under Activision Blizzard Media Networks as the company looks to expand its reach in the e-sports world. [Activision Buys Major League Gaming Assets: LA Business Journal]
Gem gathers $7.1M for blockchain platform
Venice-based
StartEngine nets $5.5 million
Santa Monica-based StartEngine, an equity crowdfunding platform, announced $5.5 million in funding this week. The round was led by two unnamed investors. StartEngine is most weel known for leading the crowdsourced $25 million share sale for Phoenix-based Elio Motors. [StartEngine Raises $5.5 Million: LA Business Journal]
Faraday Future shows off new electric car
On the eve of CES, stealth startup Faraday Futures finally unveiled their first product — the FFZERO. The electronic racecar has 1,000 horsepower, can reach 200 MPH, and goes 0 to 60MPH in three seconds. The car will be the benchmark for the company's new billion dollar Nevada factory. [Faraday Future's electric racecar emerges from stealth at CES: Built In]
17 LA entrepreneurs make Forbes 30 under 30 list
Forbes annual list of young business outliers featured 17 LA millenials this year. The list is broken into different industry sub categories like Venture Capital, Marketing & Advertising, and Enterprise tech. [Check out which LA entrepreneurs made Forbes 30 under 30: Built In]
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