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Get started with Snapchat Discover
Snapchat’s rapid feature expansion continued this week, as the disappearing messaging and picture app added one more: the news. Via Snapchat Discover, partners like ESPN, Vice, National Geographic and The Food Network are providing Snapchat users with daily doses of news that disappears before the next day. CEO Evan Spiegel is reportedly fascinated by the media and is even considering having Snapchat create its own content. The company is just coming off closing a $485.6 million fundraising round and has been on a feature releasing spree over the last 12 months, including launching ‘Stories,’ ‘Our Story,’ and paid advertising. [Get started with Snapchat Discover: CNET]
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Techstars Ventures raises $150M fund, propelling it into Series A investments
Techstars, the operator of Disney Accelerator, has just unveiled its third Techstars Venture Fund. The $150 million fund will be used to make seed and Series A investments in “accelerator program graduates, new companies started by Techstars alumni, and companies formed by Techstars mentors,” said CEO David Cohen in a blog post. Started in Boulder, Colorado Techstars has launched accelerator programs across the world, including Los Angeles-based Disney Accelerator which just graduated its first class of companies last year. [Techstars Ventures raises $150M fund, propelling it into Series A investments: Built In LA]
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Disney Accelerator 2015 applications are open
Disney Accelerator opened up applications for its second class of startups. The accelerator program “offers media and entertainment technology startups $120,000 in investment capital along with mentor support from top Disney executives, seasoned entrepreneurs, investors, and other notables from the entertainment and technology communities,” said managing director Cody Simms in a blog post. Graduates become part of the Techstars network and for the duration of the program have access to working space at the accelerator. Applications are due by April 19th, for the 2015 class. The program begins July 9th and runs through Demo Day on October 6th. [Disney Accelerator 2015 applications are open: Techstars]
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$8M to Cargomatic: the Uber-like shipping startup is turning extra capacity into extra cash
Cargomatic, an Uber-like shipping startup based in Venice, has just raised an $8 million Series A investment. The investment round was led by Canaan Partners and included investors from the company’s earlier $3.5 million seed round. The Cargomatic app works by connects independent truckers that have extra capacity with nearby shippers, a sort of ride-sharing program for the shipping industry. The company operates in Los Angeles and New York City, and has plans to use its new capital investment to expand to other large cities. [$8M to Cargomatic: the Uber-like shipping startup is turning extra capacity into extra cash: Built In LA]
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Fullscreen forms a feature film division
YouTube MCN Fullscreen is going from the small screen to the big screen with the launch of its Feature Films Division. The division will develop and produce original feature length films. CEO George Strompolos said the company is mearly responding to demand from their audience. Fullscreen will pay for the films to be made and when appropriate will bring on co-producers. If the MCN can turn its 500 million YouTube subscribers into a paying silver screen audience they may be onto something. The company already has three features in production. [Fullscreen forms a feature film division: LA Business Journal]
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HelloTech raises $2.5M to bring on-demand convenience to in-home IT support
Home IT support startup HelloTech has raised $2.5 million in seed funding. The investment comes from Upfront Ventures, Accel Partners, Crosscut Ventures, Amplify.LA, Ron Burkle, and several other angel investors. Richard Wolpert, co-founder of acclerator Amplify LA, founded HelloTech. The startup will offer GeekSquad-like IT support via an app for $49 per hour. IT support services are currently only available in West LA, but the startup has plans to expand greater LA by summer 2015. [HelloTech raises $2.5M to bring on-demand convenience to in-home IT support: PandoDaily]
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Rewards platform Lootsie raises $3.5 million in seed funding
App loyalty and rewards platform Lootsie raises $3.5 million in seed funding. Investment came from Tim Kendall, Michael Liou, Anthony Saleh, and Brad Schwartz. Lootsie works similarly to the popular loyalty programs that airlines, credit cards and hotels offer, but plugs into any mobile app. Users earn points for hitting achievements within their apps and then can redeem those points for real-world rewards from any of Lootsie’s brand partners. [Rewards platform Lootsie raises $3.5 million in seed funding: Built In LA]
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