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Silicon Beach Report Jan. 8: GoPro layoffs, Grindr founder leaving, new lights for Ring’s smart doorbells

L.A. Business Journal

GoPro announced layoffs and cost-cutting as the camera and software company exits the drone business; video doorbell maker Ring has acquired light maker Mr. Beams; and the founder of dating app Grindr is stepping down following the company’s acquisition by a Hong Kong-based mobile gaming company.

Layoffs 170
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Ixia Cuts 80 Employees

socalTECH

Calabasas-based Ixia , a developer of network testing tools and software, is reporting this morning that it has implemented a "cost reduction initiative" and cut 80 positions from the firm, in what it said was primarily an elimination of duplicate resources from the company's October acquisition of Agilent's N2X product line.

Layoffs 133
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BetterWorks Shutting Down On May 31st

socalTECH

In what is a huge blow to Silicon Beach, Santa Monica-based BetterWorks , the software-and-technology-meets-employee-perks startup run by Paige Craig, told its users today that it is sunsetting its site on May 31st. BetterWorks--and Paige Craig--have been one of the companies driving the growth in Santa Monica's Silicon Beach.

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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. In 2017, TechCrunch reported that Whisper underwent significant layoffs to stave off collapse and put the company on a path to profitability. Securities and Exchange Commission.

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Lockerz Axes Plixi Team In San Diego

socalTECH

Lockerz' San Diego team came from the January, 2011 acquisition of Plixi, which was formerly known as TweetPhoto, which developed software and services which allowed Twitter users to share photos.

San Diego 164
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THQ Details Buyers, Numbers After Fire Sale

socalTECH

and $5.9M; Homefront 2 went to Crytek GmbH for $0.5M; Evolve went to Take-Two Interactive Software for $10.9M; THQ Montreal and Skuth Park: The Stick of Truth went to Ubisoft for $2.5M Relic Studios goes to Sega Corporation for $26.6M; Volition and Metro: Last Light went to Koch Media GmbH for $22.3M READ MORE>>.

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Xconomy’s Top Innovation Stories of the Half Year

Xconomy

No PhD, “No Fear”: Alice Zhang, 27, Aims Software at Neuro Diseases. Layoffs Reflect New Turbulence at High-Flying 3D Robotics. Jeff Engel maps out New England’s cluster of cybersecurity companies—one of the region’s strengths (and a rich source of acquisition targets).