Atom Tickets’ new platform might reinvent the movie ticketing industry
Founded in 2014,
recently introduced a new mobile platform that allows users to combine advance ticketing with their social network of choice, helping consumers to preorder tickets and concessions and invite their friends. The Santa Monica-based company closed a $50 million Series B in February that was led by the likes of Disney, Fox and Lionsgate. The company’s business plan takes direct aim at industry giants Fandango and MovieTickets.com. [Atom Tickets lobs bomb at Fandango, MovieTickets with new social tools: SoCal Tech]
Real estate crowdfunding site Patch of Land names new CEO
announced Monday it had hired Paul Deitch, recently of Oaktree Capital Management, as chief executive officer. Deitch, who oversaw the development of the firm’s operating infrastructure as the organization grew from $50 to $100 billion while with Oaktree Capital Management, was brought to help engineer new debt products. The Westwood-based company is looking to develop several new types of real estate loans moving forward. [Patch of Land Names New CEO: LA Business Journal]
Airmule introduces peer-to-peer international courier service
The courier industry just got a little more personal. LA-based startup
introduced its peer-to-peer courier system that allows travelers to transport items for others when they fly internationally. International travelers with little or no luggage can offer to carry items for other people in their designated luggages space. The company hopes that their method would deliver items internationally for less than half the price of international shipping. [Airmule Launches Peer-To-Peer, International Courier Service: SoCal Tech]
Snapchat throws its weight behind ballot selfies
The Venice-based messaging service has decided to take a stance on the legality of photos of ballots on election days, filing a legal brief supporting a federal court case attempting to overturn a New Hampshire law that prohibits photography in polling places. Many states have similar laws in place in order to prevent voter intimidation and vote buying, but the
and the plaintiffs argue that the law is outdated and unconstitutional. [Snapchat Files Legal Brief Supporting 'Ballot Selfies': Los Angeles Business Journal]
Broadcom Sells Internet of Things business for $550 million
Cypress Semiconductor Corp. confirmed Thursday that it would pay $550 million for Irvine-based Broadcom. Cypress will be acquiring Broadcom's Wi-Fi, Bluetooth and Zigbee IoT product lines and intellectual property in the deal that is expected to close between July and September. [Cypress Semi buys Broadcom IoT business for $550M: Market Watch]
Inglewood-based Stratalux Acquires Tojo Media
announced it has acquired Tojo Media, a company which specializes in building software for media and entertainment clients to be used in the Amazon Web Services (AWS) public cloud. Stratalux, a provider of cloud-based managed services for AWS also named former Tojo Media leader Joseph Hunt as its new VP of Engineering. [Stratalux Acquires Tojo Media: SoCal Tech]
Fundings of the Week
, $4.5 million
Investors: Upfront Ventures
LA-based startup Stem, a program that helps content creators track, collect and share revenue, announced $4.5 million in new funding on Wednesday. The seven-month-old startup had previously received an undisclosed seed funding from Mark Cuban in October 2015. The group of investors included management for stars Justin Bieber, Katy Perry and Calvin Harris. [‘Stem’, Which Streamlines Revenue Collection For Digital Creators, Announces $4.5 Million Funding Round: Tube Filter]
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