FlashFunders acquired by investment banking firm
Santa Monica-based FlashFunders, a startup that helps businesses raise capital, was acquired by global investment banking firm Boustead & Company today. The acquisition comes on the heels of FlashFunders teaming up with another Boustead & Company subsidiary, Boustead Securities, LLC, to complete the first-ever Regulation A+ IPO to list on Nasdaq for Newport Beach-based ADOMANI, Inc. [Press Release]
VR Playhouse, Identity FX merge
Glassell Park-based VR Playhouse announced this week that it has merged with post-production studio Identity FX. Former Playhouse CCO Ian Forester will take the helm as the joint entity's CEO. Leo Vezzali, formerly of Identity FX, will join the team as executive producer. [VR Playhouse]
Annenberg Foundation partners with Riot Games to help local schools
The Annenberg Foundation continued its push to partner with local tech companies for the benefit of local schools this week by announcing a deal with Riot Games to help around 1,000 local students learn the art of video game design. The foundation is already working with Snap's philanthropic arm, Span Foundation, as well as Two Bit Circus. [LA Times]
Local universities unite to make LA California's tech hub
The University of Southern California announced this week it has joined a new nonprofit coalition of local universities, research institutions and corporations aiming to foster growth in tech entrepreneurship in Southern California. The coalition is led by serial entrepreneur Steve Poizner. USC is joined by Caltech, UC Irvine and UCLA, among others.[USC]
Pay gap between men and women in LA tech widens
The pay gap between men and women working in computer and mathematical occupations in Los Angeles grew 15.5 percent on average for the first time in years. Between 2011 and 2015, women in Los Angeles made an average of 82 cents for every dollar men made, falling from 97 cents between 2006 and 2010. [LABJ]
Fundings of the week
Domuso, $3.1 million
Domuso, a Santa Monica-based startup that develops tools to help streamline the financial relationship between a residential building owner, manager and their renters, reported a $3.1 million seed round this week. The company plans to use the funds to scale operations as the company seeks a Series A. [Built In LA]
Images via social media and Shutterstock.
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