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Triller Eyes Public Markets Via Direct Listing

socalTECH

Los Angeles-based TrillerNet, the parent company of social media app Triller, is now looking at hitting the public markets via a direct listing, according to Reuters. The company is currently led by CEO Mahi de Silva, and reportedly is expecting revenues of more than $250M in 2021. Triller competes directly against TikTok.

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How long can Zuckerberg afford to bankroll the AR/VR market?

TechCrunch LA

Last week, we talked about about the “de-stonkifying” of the market. The company’s stock tanked by more than 26 percent, representing a $230 billion reduction in market cap and a $31 billion drop in Zuckerberg’s personal net worth. Hello friends, and welcome back to Week in Review ! Image Credits: TechCrunch.

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Crypto.com Cuts 20 Percent

socalTECH

Crypto.com bought the naming rights to what was the Staples Center, the home of the Lakers and the Sparks, back in 2021; the company agreed to pay $700M in that naming rights deal. reportedly impacted more than 2,000 people. Crypto.com blamed the collapse of FTX.

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Fintech giant Klarna raises $639M at a $45.6B valuation amid ‘massive momentum’ in the US

TechCrunch LA

Overall, Klarna is live in 20 markets, has more than 90 million global active users and more than 2 million transactions a day conducted on its platform. To put that into context; Affirm’s financial report in May projected it would process $8.04 March 2021 also represented a record month for global shopping volume with $6.9

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Bird Sees Record Results, Adds New E-Bike

socalTECH

Los Angeles-based micromobility provider Bird said this morning that it has seen record second quarter and first half fiscal 2021 financial results, with $60.0M In addition to the results, Bird also said it has launched new e-bike aimed at the consumer products market, the Bird Bike.

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New markets emerge for carbon accounting businesses as cities like LA push proposals

TechCrunch LA

In Los Angeles, the city council tasked the Los Angeles Bureau of Sanitation and Chief Legislative Analyst to report back on the feasibility of developing or buying technology to provide a more accurate accounting of the city’s carbon footprint.

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Etsy Is Boosting Seller Transaction Fees By 30%

Tech.Co

Etsy revealed the change in emails to sellers as well as a report to investors yesterday. It'll help the company invest in marketing, Etsy CEO Josh Silverman says: “We have demonstrated our ability to make improvements that directly translate into more sales for our sellers, as evidenced by record sales per seller in 2021.

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