Ring moves to Hawthorne, introduces neighborhood watch app
Ring, the home security startup founded by serial entrepreneur Jamie Siminoff, is trading in its 90404 ZIP code for a 62,000-square-foot warehouse in Hawthorne. Just over two months after it was acquired by Amazon for $1 billion, the company signed a 10-year lease with an option to renew roughly 15 miles southeast of its old Santa Monica abode. [LA Business Journal]
On the tech front, the company launched Neighbors, a neighborhood watch app that provides users with real-time crime and safety information on their Apple or Android devices. [Press Release]
Former Ticketmaster CEO returns to LA tech with new startup, Rival
Nathan Hubbard is back in charge of an LA-based ticket marketplace, except this time, it's not Ticketmaster. His new startup, Playa Vista-based Rival, hopes to help venues and sports teams fight back against falling ticket sales while also promoting fan spending at live events. The company emerged from stealth this week with a $30 million round of funding led by Andreessen Horowitz and Upfront Ventures, with execs from Twitter, Slack and Stripe also contributing. [LA Business Journal]
Local adtech startups announce acquisitions
This week, Gimbal announced that it had acquired Silicon Valley-based identity management startup Drawbridge for an undisclosed sum. By integrating Drawbridge's technology into its existing platform, Gimbal will be able to help marketers determine the most effective channels for driving consumers to physical locations. [Press Release]
Meanwhile, in West Hollywood, fellow adtech startup engage:BDR signed a term sheet to acquire 100 percent of digital media and marketing startup AdCel's shares. The deal is worth $4.5 million in cash and engage:BDR shares. [FinFeed]
Local food startups announce product news
Thanks to a new partnership with Smithfield Foods, El Segundo-based Chef'd will be bringing its gourmet meal kits to more than a dozen retailers — including Costco and Gelson's Markets — around the United States. One of Built In LA's 50 Startups to Watch in 2018, the company has eschewed traditional venture capital investments in favor of strategic partnerships with established companies in the food and service industries. [Press Release]
Stop me if you've heard this one before, but an El Segundo-based foodtech and e-commerce company announced plans for expansion this week. Six months to the day after scoring a $55 million Series G, Beyond Meat announced global expansion plans slated for this summer. [Press Release]
LA tech kicks off May in style with a $151M flurry of fundings
Perhaps unsurprisingly, given local fundraising trends this year, it only took five days for area tech companies to collectively raise $151 million. Playa Vista's Rival, West Hollywood-based Muzik, Encino's mPulse Mobile and Santa Monica's Casetabs all announced major funding this week. Additionally, on-demand massage startup Soothe closed a $31 million Series C. [Built In LA]
