Year-to-date data shows LA to be a maturing startup market with more upside ahead
By Reporter Michael Carney of PandoDaily
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It’s easy for armchair observers to throw out criticisms and accolades when talking about startup ecosystems, but rarely are these backed up with sufficient data. When data is available, however, it can lead to some informed debate. To that end, earlier today Built in LA released an overview of the startup formation, investment, and M&A activity in the Los Angeles ecosystem in the first half of 2013. It follows the group’s similar but more detailed year-end 2012 Digital Startup Report, which we discussed previously.
While the sentiment on the ground in LA has been one of a market slowing ever so slightly following a blistering 2012, the stats in today’s report don’t bear that out. At a high level, 1H 2013 resulted in 94 new companies formed, more than $500 million raised by 92 companies, and eight companies exiting, resulting in more than $153 million worth of value realized.
