Tech roundup: DreamWorks founder seeks $2B for startup, Ring's new security kit and more

October 5, 2017

Hollywood legend enters tech world seeking $2B for mysterious startup

Jeffrey Katzenberg — who ran Disney's motion picture division during the era of "The Little Mermaid" and "Beauty and the Beast" before starting DreamWorks — is back at it. The details surrounding WndrCo, a "new media and technology company" headquartered in LA with offices in the Bay Area are scarce, but Katzenberg is reportedly seeking $2 billion in funding to help the company create short-form video content for mobile devices. [New York Times]

 

PeerStreet reaches halfway mark to $1B in funded loans

PeerStreet, a marketplace for investing in real estate backed loans, announced yesterday that it had surpassed $500 million in loans funded. The Manhattan Beach-based company is reporting its investors have experienced zero losses since the company officially launched last year. [Press release]

 

StackCommerce makes another acquisition

Venice-based StackCommerce announced this week that it had completed an all-cash acquisition of San Francisco's Joyus to expand its video operations and ability to attract women consumers. While financial terms of the deal were not disclosed, TechCrunch, citing a person familiar with the transaction, reported that the purchase was made for less than $50 million. [TechCrunch]

 

Ring announces home security service

Upon closing a $109 million round in January, Ring announced plans to launch new products in markets all over the world. This week, the company reported the release of its very own connected home security system. For $199, consumers will receive a base station, keypad, contact sensor for a window or door, a passive infrared sensor and a Z-Wave extender for adding range to smart home devices. Ring Protect, an accompanying security service, will consumers $10 a month. [TechCrunch]

 

Santa Monica named most expensive place to live in LA County

Santa Monica has never been a cheap place to live, but when Los Angeles Magazine released its list of most expensive places to live in Los Angeles County, the area's unofficial tech capital was ranked above Beverly Hills and Malibu. Homes in SaMo have reached a median value of $3.4 million, edging out places like San Marino and Pacific Palisades on the list. [Los Angeles Magazine]

 

Fundings of the week

PetNet$3.75 million

Investors: Unknown

LA-based Petnet, which develops an automated pet feeder, added an additional $3.75 million to an ongoing $6.5 million round. Details of the funding have not yet been released. [SoCal Tech]

 

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