Netflix to raise another $1.5 billion for original content; Postmates creates 2,000 jobs in Los Angeles; Boeing invests in Morf3D.
Netflix to Raise another $1.5 Billion for Original Content
Netflix Inc., which has several offices in Los Angeles, announced it will raise $1.5 billion in debt to fuel a rapid expansion in original content, Reuters reports. Just last October the company raised $1.6 billion in debt for content, in what is appearing to be an arms race for original content with Hulu, Amazon and Apple, which is planning on pursuing original content. Netflix said it plans to spend nearly $8 billion on content in 2018.
Postmates Creates 2,000 jobs in Los Angeles
Los Angeles-based Postmates, a food delivery service, put out an economic report on consumer behavior. Among the findings is that couriers make $18.61 an hour, $5.31 more than the minimum wage for food services. The report also says the company created 2,000 additional jobs in Los Angeles in 2017.
Boeing announced its investment in Morf3D, an El Segundo, Calif.-based company specializing in metal-based additive engineering and manufacturing, Business Insider reports. Morf3D’s technology enables lighter and stronger 3D-printed parts for aerospace applications.
Technology reporter Eli Horowitz can be reached at [email protected]. Follow him on Twitter @coachhorowitz13 for the latest in L.A. tech news.
