GirlCodeLA gets a $150,000 boost from YG
Before dropping his new album “Stay Dangerous” on Friday, rapper YG dropped a huge donation to Girl Code LA, an organization focused on teaching women the skills they need to land jobs in tech. YG told Billboard magazine gender bias plays a role in the amount of exposure students receive to tech and coding, and that he hopes his donation will contribute to creating more opportunities for female coders. “I respect the G Code,” he said. [Billboard]
AT&T acquires Otter Media
AT&T announced that it has bought a controlling interest in digital media, advertising and content company Otter Media. Otter Media will become part of AT&T’s WarnerMedia unit and Tony Goncalves will remain in his role as CEO. “Working with Tony, we look to harness Otter’s expertise in feeding the passion of online audiences to augment our portfolio of digital assets and help us further engage, connect and entertain consumers around the globe,” John Stankey, WarnerMedia CEO said in a statement announcing the deal. [AT&T]
Nexus Technologies buys Cal Net
Nexus Technologies Inc. recently snagged Chatsworth-based Cal Net Technology Group, a provider of outsourced IT, cloud and security services, and unified communications. The financial terms of the deal were not disclosed, according to reports from the Los Angeles Business Journal. The company said that Cal Net “bring a pedigree and track record of aligning technology with workflows that fits NexusTek’s practice of delivering customized solutions that solve specific business needs.” [LA Business Journal]
6 local startups with big acquisition news
The summer months are booming with new deals. Several tech companies including Stamps.com, Boingo Wireless, Seismic Games, VideoAmp, Payscout and Prevoty recently announced mergers and acquisitions. [Built In LA]
Fundings of the week
WndrCo, $1B
WndrCo, a digital media startup led by Jeffrey Katzenberg, has raised $1 billion. The round featured participation from Disney, 21st Century Fox, NBCUniversal, Sony Pictures Entertainment, Viacom, AT&T’s WarnerMedia, Lionsgate, MGM, ITV and Entertainment One. Alibaba Group and venture capital firm Madrone Capital Partners also contributed, as did Goldman Sachs, JPMorgan Chase & Co. and Liberty Global. [Built In LA]
Snapchat, $250 million
Snap Inc. has received a $250 million investment from the Saudi royal family, according to reports from TechCrunch. Prince Al-Waleed Talal’s investment gives him a 2.3 percent stake in the company. [TechCrunch]
WeeCare, $4.2 million
WeeCare, a child care access platform for families has raised $4.2 million in funding. Social Capital led the seed round with participation from Fuel Ventures. The brand new capital will be used to support the startup’s growth and expansion. [Press release]
Sagewise, $1.25 Million
Sagewise, a company that provides dispute resolution technology for blockchains has closed a $1.25 million seed round. Wavemaker Genesis led the round. The fresh capital will be used to launch and grow the company’s platform. [Press release]
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