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Los Angeles-based mobile app developer Flipagram is looking for a buyer, and may have found one, in Chinese news aggreagtor Toutiao , according to a report Thursday. Citing "multiple sources" close to the company, Recode said Flipagram is still discussing financial terms with Toutiao, but no deal has been signed. READ MORE>>.
Los Angeles-based mobile video sharing and creation company Flipagram , let by Farhad Mohit, has beenacquired by Chinese company Toutiao , the companies said this morning. Toutiao said it will expand its footprint in the United States as a result of the deal, and will grow the Flipagram team.
Los Angeles-based Flipagram , led by startup vetera Farhad Mohit, said late Thursday evening that it has raised $70M in a funding round, for its photo, video, and music sharing apps. As part of the funding Sequoia's Michael Moritz and Kleiner's John Doerr have both joined Flipagram's board of directors.
Bytedance also bought LA's Flipagram earlier this year. The news comes shortly after Bytedance (Beijing Bytedance Technology Co Ltd) also announced it had acquired another Los Angeles, social app developer, Musical.ly, in a deal reported to be worth as much as $1 billion. READ MORE>>.
It's often tough to figure exactly who the venture capital funds are who are funding startups in the area. Most recent investments: Ring, Flipagram, Snapchat. Are you a startup looking to find funding in Southern California? However, for members of socaltech.com, it's a click away with our real time analysis of venture funding flows.
Southern California has seen another, big venture capital investment quarter, with companies raising $1.46 Other big deals included in the survey were Flipagram (nearly $70M) and Yuneec ($60.0M). in 108 deals. Orange County saw $340.3M raised in 15 companies.
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