Tech Roundup: Hyperloop One swings for the fences and more

July 7, 2016

SGN buys TinyCo

Independent mobile gaming company SGN announced the acquisition of TinyCo this week, a studio which develops Family Guy and Marvel Avengers mobile games. Led by MySpace cofounder and former CEO Chris DeWolfe, SGN has been on a buying streak in 2016, with the purchase of TinyCo representing the third acquisition since December. [TinyCo]


Hyperloop One plans to connect Helsinki and Stockholm

Downtown LA's Hyperloop One, the company developing a revolutionary transportation system, wants to connect Helsinki and Stockholm, according to a report commissioned by the company's partner, FS Links. According to the report, the network would be 310 miles long, and would cost $21 billion to build and operate. [Press Release]


Venice's System1 buys InfoSpace

Email marketing company System1 has agreed to purchase InfoSpace, a search engine based in Washington for $45 million. Founded in 1996, InfoSpace enjoyed notable success during the early days of the Internet, seeing its stock prices soar to $1,000 before plummeting to just over $2 a share. Since 2012, the company has been a division of Blucora. [LA Business Journal]


Homee, NextVR announce fundings

Homee, an app that helps users create a stylish, affordable personalized space in a simple, intuitive manner, announced the launch of its app this week, in addition to a $5 million Series A funding. Also this week, Laguna Hills-based virtual reality broadcaster NextVR announced a $20 million Series B funding. The company plans plans to use the round to expand its business and improve its channel development and optimization of live virtual reality projects. [Built In LA]


Boingo's marketing team honored

LA-based Boingo Wireless saw its marketing team honored by Cablefax as the "Marketing Team of the Year." The Wi-Fi provider also received an award for “Best Campaign on a Shoestring Budget” and an honorable mention for “Acquisition and Upgrade Marketing” for the launch of Boingo Broadband on military bases nationwide.  [Press Release]


Fundings of the Week

Netki, $3.5 million
Investors: O'Reilly AlphaTech Ventures (OATV), Donuts, Colle Capital, The Husseini Group, The Digital Currency Group, Tom Turney, Bitfinex, Plug and Play and Base Ventures. 
Netki, a startup creating blockchain identity management software, announced a $3.5 million seed funding round this week. The company plans to use the funds to invest in their technology and grow their team in order to support customer growth." [Coin Desk]
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