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j2 Global Revenues Increase To $280.6M For Q1

socalTECH

Los Angeles-based j2 Global , the online services and publishing giant, reported on Monday that its Q1 2018 quarterly revenues grew to $280.6 According to j2 Global, it ended the quarter with approximately $400M in cash and investments, after spending around $100M for acquisition and its regular quarterly dividend.

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Fair Names New CEO

socalTECH

Santa Monica-based car subscription service Fair said on Monday that it has named a new CEO, Bradley Stewart, the former CEO of XOJet. Fair is reportedly in the midst of raising another round of funding to continue to grow its service. READ MORE>>.

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Acorns Acquires Vault

socalTECH

Irvine-based Acorns , a fintech startup which helps people get into investing, has acquired Portland, Oregon-based Vault , a startup developing services which had automatically helped users save for retirement. Financial details of the acquisition were not announced.

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j2 Global Revenues Increase To $292.7M For Q3

socalTECH

Los Angeles-based j2 Global , the Internet services and publishing giant behind such brands as IGN, Mashable, PCMag, eFax, eVoice, KeepItSafe, and dozens of others, saw its third quarter revenues rise to $292.7 billion for its fiscal 2018, and an Adjusted EBITDA between $480 million and $505 million. billion and $1.25 billion and $1.25

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Tech Coast Angels Hails Exit At CaseStack

socalTECH

The Tech Coast Angels said this morning that its members said a 16x return from their investment in CaseStack , the logistics and supply chain company led by Dan Sanker, after its acquisition last year for $255M. in November of 2018. The group invested in the $470,000 Series A funding for CaseStack all the way back in 2003.

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LA-based gaming studio Scopely raises $200 million at a $1.4 billion valuation

TechCrunch LA

The new investment follows Scopely’s milestone of achieving more than $1 billion in lifetime revenue. Indeed, part of the reason for the financing is to accelerate the pace of its acquisitions and investments into new game development studios, according to chief executive, Walter Driver.

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MediaLab acquires messaging app Kik, expanding its app portfolio

TechCrunch LA

Popular messaging app Kik is, indeed, “here to stay” following an acquisition by the Los Angeles-based multimedia holding company, MediaLab. Heyward was an early star of the budding Los Angeles startup community with the launch of the anonymous messaging service, Whisper nearly 8 years ago.