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Buzzfeed pulls out of deal for Ford Factory office
The NY-based viral content platform was slated to move into 200,000 square feet at the 2060 E. Seventh St. in downtown L.A.’s Arts District but has withdrawn from the deal without comment. With multiple small offices around the city, BuzzFeed is still on the look out for a main LA headquarters for their video production and content teams. [BuzzFeed Puts Brakes on Deal at Ford Factory: LA Business Journal]
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Near-death Earbits acquired by You42
Earbits, the LA-based streaming music service focused on new artist discovery, was purchased this week by the Atlanta-based You42 who reportedly saved the company from closing its doors in 2014. Financial terms of the deal were not disclosed. [Earbits Acquired By You42, After Near Death Experience: SoCal Tech]
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AssetAvenue names new CTO
The LA-based online real-estate investing marketplace named Douglas Seller as their new CTO this week. Seller joins the team after serving as CTO for Kumu Wellness, an online wellness coach matchmaker. [AssetAvenue Names CTO: SoCal Tech]
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GumGum and Trade Desk partner up
GumGum and Ventura-based Trade Desk have announced a partnership to integrate the LA company's in-image advertising with Trade Desk's Demand Side Platform. Financial terms of the deal were not disclosed. [GumGum, Trade Desk Partner On Ad Integration: SoCal Tech]
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A former LA cop takes on Techstars, named to Kairos50
SPIDR, led by LA-native Rahul Sidhu, began creating a police intelligence platform to house officer-to-officer information, but has transitioned to a public-facing database called SPIDR Web. While currently participating in Techstars in New York, Sidhu was selected for the K50 Summit, recognizing the world’s best startups led by entrepreneurs 25 years and younger. [A former LA cop has taken Techstars by storm with his police intelligence platform: Built In]
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Fundings
uBeam, $10 million
Investors: Ken Hertz, Katie Jacobs Stanton (Twitter), Pat Hedley (General Atlantic), and WME Ventures
LA-based uBeam, a developer of wireless charging technology, also announced the hiring of Monica Hushen as CFO and Jeff Devine as COO. The company also announced this week that they will be shipping their technology within the next year. [UBeam to Ship Wireless Chargers Next Year: LA Business Journal]
General Assembly, $70 million
Investors: Advance Publications and Wellington Capital Management
The New York-based coworking and educational startup has a prominent location in Santa Monica and hosts tech events as well as classes. [General Assembly Raises $70M More: SoCal Tech]
Tradesy, $3.17 million
Investors: Not Reported
Tradesy serves millions of the world’s coolest customers, has secured backing from iconic investors like Richard Branson and John Doerr. The company allows users to sell and shop for used fashion items.
MomentFeed, $2.7 million
Investors: DFJ Frontier, Signia Venture Partners, Draper Nexus Ventures
MomentFeed provides an integrated marketing platform built to drive business results in the mobile era. The company enables brands to leverage this new asset through a platform that unifies Facebook, Google, Instagram, Yelp, Twitter, and Foursquare for management down to the local level on a global scale.
Jemae, $1.3 million
Investors: S Apparel, Inc. and Katmandu, Inc
Jemae is a fashion startup focused on designer products that aid humanitarian efforts. The company's founder calls it a "cross between TOMS Shoes and Chanel." [Jemae Finds $1.3M For Fashion Startup: SoCal Tech]
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