Boring Company Sets Up Shop In Austin

socalTECH

Los Angeles-based Boring Company , the tunneling-and-Hyperloop-transportation company founded by Elon Musk, is setting up shop in Austin, Texas, saying on Monday that it is hiring in the city. The company listed jobs in Electrical Engineering, Mechanical Engineering, Accounting, Business Development, and other areas. link] — The Boring Company (@boringcompany) November 9, 2020. boring company austin expansion texas elon musk hyperloop transportation

Energica CEO plots her Italian EV company’s reboot from lockdown

TechCrunch LA

The CEO of the high-performance Italian motorcycle manufacturer offered that point of optimism, as her Modena based EV company remains closed by government decree. From lockdown in her Northern Italy home, Cevolini shared perspective on the future of motorcycling, acquisition offers and plans to recharge her company when the COVID-19 crisis subsides. The company — that has has a California office and U.S. MotoE riders use the company’s EGO model as their base bike.

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LA Companies Play Leading Role in Rising AR, VR Industry

L.A. Business Journal

It may seem redundant to say that a company focused on creating virtual reality experiences is ahead of the curve, but that’s precisely the case for West Adams-based Survios Inc

Selling your company for less than expected?

Berkonomics

Sometimes the end game or sale of the company is not a happy event. And yet, VCs sometimes bravely put in more money near the end of the life of a company to bridge the company to a sale of assets in an attempt to recover some or all of the original investment.

Can You Ask for Office Rent Relief? How to Manage Your Lease During COVID-19

Office leases are one of companies’ largest expenses, and if your whole team is working from home with no clear end in sight, you may be wondering what to do about your lease.

Can you build a company, not just a product?

Berkonomics

She stated that she had rejected the investment being discussed, because in her mind the entire company was “just a button, on a feature, in an app.” If you have invented a game that will be marketed as a new app in the app store, have you created enough of a model to create an ongoing company, or just another app that will compete with the millions already in the store? The post Can you build a company, not just a product?

HONK Wins Insurance Company

socalTECH

According to HONK, it has signed up Wawanesa Insurance, and will manage the roadside assistance program for the insurance company. HONK says that Wawanesa is ranked the number one insurance company in California for customer satisfaction, according to J.D. Los Angeles-based HONK Technologies , which is developing an app that helps provide roadside assistance to users, has signed up an insurance firm as a customer.

Pacific Defense Acquires Military Tech Company

L.A. Business Journal

has acquired military tech company Spear Research Recently formed El Segundo-based Pacific Defense Strategies Inc.

Investors back Pacific Consolidated Holdings to merge leading LA-based liquor and weed delivery companies

TechCrunch LA

There’s a new company that’s sitting on top of some of the fastest growing consumer-facing businesses in the world — liquor and marijuana delivery — and its name is Pacific Consolidated Holdings Group.

Water Tech Companies Are Springing Up in LA

L.A. Business Journal

In many areas of the world, there may be no more precious commodity than water — and that’s especially true in Los Angeles

An economics lesson for growing companies

Berkonomics

Growing companies usually require more working capital during their periods of rapid growth. Venture or angel-financed companies with plenty of working capital sometimes are immune to this working capital need for some time into their growth, but at some point, it will become clear that the cheapest form of finance is not equity in a growing enterprise. Catching up from past insights.

Software Security Company Replicated Raises $25 Million

L.A. Business Journal

Replicated, a Culver City-based company that provides security and operations services to software vendors, closed a $25 million Series B funding round

Tech Companies Continue to Bulk Up in LA, Driving Job Growth

L.A. Business Journal

Tech jobs are growing at a rapid clip in Los Angeles, fueled by an increasing appetite from local companies as well as industry leaders that are expanding their presence here

Electric Car Sharing Company Envoy Sets $11 Million Series A

L.A. Business Journal

a Culver City company that operates electric car sharing services has raised $11 million in funding Envoy Technologies Inc.,

Boring Company Begins Hiring in Texas

L.A. Business Journal

Elon Musk’s upstart tunnel-building business Boring Co. is poised to expand into Austin, Texas

TikTok Ban Is Blocked, Company Countersues Triller

L.A. Business Journal

The future of TikTok’s U.S. business is still murky, but a recent federal court ruling makes it unlikely the massively popular social media app will go dark in the near future

Local Tech Companies Work to Get Out the Vote

L.A. Business Journal

Social platforms and media content creators in Los Angeles are leveraging their influence to encourage voting by Gen Z and millennial audiences as registration deadlines approach

NantHealth Acquires Data Company OpenNMS

L.A. Business Journal

Billionaire Patrick Soon-Shiong’s NantHealth Inc., which uses data analysis and artificial intelligence technology to assist physicians and improve patient outcomes, is going even more high tech

Hologram Company PORTL Gets $3 Million

L.A. Business Journal

Holographic technology startup PORTL Inc. announced $3 million in seed funding

Boring Company's Vegas Loop Won't Meet Passenger Goals, Says Report

socalTECH

A report, published Friday, says that the Las Vegas hyperloop system being built under the Las Vegas Convention Center by Los Angeles-based The Boring Company will will not meet passenger throughput requirements of the contract. The report said that only 800 passengers an hour are allowed on the company's Convention Center Loop per station, which would dramatically limit how many passengers could be transported through the system.

Pepperdine Names Most Fundable Companies

L.A. Business Journal

Pepperdine’s Graziadio Business School announced the winners of its second annual Most Fundable Companies competition

Humana partners with Heal and invests $100 million in the company’s doctor-on-demand service

TechCrunch LA

While Desai’s bluster may be wishful thinking, the doctor’s office is certainly changing, and that’s thanks in part to companies like Heal, which offer in-home and telemedical consultations — and health insurance providers like Humana that are backing them.

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AI Company Beyond Limits Raises $113 Million

L.A. Business Journal

Glendale-based artificial intelligence company Beyond Limits Inc. has raised $113 million in a Series C funding round with another roughly $20 million committed

Does your company culture encourage employee curiosity?

Berkonomics

Some of the world’s best companies to work for are those that encourage employees to spend time following their own paths of curiosity toward development of new products or services. Every company has hidden talent, creative thinkers that are not in a position to demonstrate their talents. CEO’s often focus employees on the company’s goals, without allowing time to explore the edges to create alternative solutions, or to think ahead toward new possibilities.

You are your company’s moral compass.

Berkonomics

Years ago, when I was CEO of my record manufacturing company in Hollywood, I happened to walk around the plant into the press room just as Bobby, one of the employees’ favorite coworkers, was offering stolen merchandise to his fellow pressmen from a bag he was carrying. How your decisions affect your company. How you comport yourself in these situations is absolutely the litmus test for how your company culture will reflect your actions.

How about personal guarantees for company debt?

Berkonomics

As a rule of thumb, a company with a majority owner in control will be required to provide such a guarantee for most any borrowing of significant size in relation to assets. But what happens when the entrepreneur has taken investments from one or more outside investors and may not even own a simple majority of the company’s stock? A win-win for the investor and entrepreneur assuming the company does grow and have a liquidity event someday.

Bird Buys Berlin Company

L.A. Business Journal

acquired Circ, an electric scooter company headquartered in Berlin, in a bid to expand the Santa Monica-based company’s European operations Electric scooter operator Bird Rides Inc.

Could you be your company’s bottleneck?

Berkonomics

So many tasks; so little time. As a manager, you have a number of critical tasks that are general to your position as opposed to specific to your industry. These include ensuring the continued health of the organization, setting the moral compass for your stakeholders, providing for succession by training and documenting, leading the effort in compliance of regulations and safety needs, and … elimination of all possible bottlenecks that impede the efficiency of your organization.

LA Companies Play Leading Role in Rising AR, VR Industry

L.A. Business Journal

It may seem redundant to say that a company focused on creating virtual reality experiences is ahead of the curve, but that’s precisely the case for West Adams-based Survios Inc

Why document your company’s tribal knowledge?

Berkonomics

It is not common for the CEO of a rapidly growing company to think of slowing down the furious pace enough to have each manager (including the CEO) document the job process managed, as well as see to the documentation for each process managed below. And it is even more of a challenge to consider documenting the tribal knowledge of a company’s key employees. The processes you and your subordinates follow.

SmartDrive Wins Paving Company

socalTECH

San Diego-based driving safety and monitoring systems provider SmartDrive Systems announced this morning that it has signed up Superior Paving, a large asphalt paving company on the East Coast, as a new customer. smartdrive paving company driver safety fleet auto automotive transportation

Share Ventures, an LA-based studio for company creation, is MoviePass co-founder Hamet Watt’s next act

TechCrunch LA

” With $10 million in financing from a slew of investors including Upfront Ventures, Alpha Edison, the general partners and founders of True Ventures, and a Korean family office, Share Ventures will look to launch between two and four companies per year.

ServiceTitan Ties With Service Finance Company

socalTECH

Los Angeles-based software developer ServiceTitan , which makes software to help residential and commercial contractors manage their businesses, has linked with sales finance firm Service Finance Company, LLC. Financial terms of the deal between the companies were not announced. Service Finance Company provides sales financing for purchase of products such as HVAC, windows, doors, solar, plumbing, roofing, insulation, and other home improvement products.

The Bouqs Company Names New Board Member

socalTECH

Marina del Rey-based The Bouqs Company , the direct, farm-to-consumer, online floral delivery service founded by John Tabis, said this week that it has named Rosemary Turner to the company's board of directors. The company said Turner is a veteran logistics leader, having served as president of UPS for 22 years.

The Boring Company Completes Las Vegas Tunnel Dig

socalTECH

The The Boring Company , the Elon Musk company which is developing underground transportation systems, has completed digging its tunnels underneath the Las Vegas Convention Center. project would be The Boring Company's first commercial transportation project, once complete. Vegas Loop 12:41 AM Rumblings pic.twitter.com/aEFbkwD8WI — The Boring Company (@boringcompany) May 14, 2020. boring company vegas convention center tunnel high speed transportation elon musk

Tech Companies Continue to Bulk Up in LA, Driving Job Growth

L.A. Business Journal

Tech jobs are growing at a rapid clip in Los Angeles, fueled by an increasing appetite from local companies as well as industry leaders that are expanding their presence here

Massage-on-demand company, Soothe, raises $31 million

TechCrunch LA

The Series C round from late stage and growth capital investment firm, The Riverside Company , caps a busy first quarter for the massage service. The former CFO of MarketShare, Heyrick has helped the company expand to over 11,000 massage therapists in its network. The company said the new round would help keep massage therapists in its network with pricing that can be up to three times more than those therapists would make in their local markets.

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The best things about your company board

Berkonomics

For weeks, we’ve highlighted both good and bad things about boards of directors for your company (or non-profit.) This week, let’s focus upon number one – aside from the requirements of boards to protect the company itself (not the shareholders.). Boards provide or see to it that there are resources for the company (especially money) to operate. No, that is not the watch company, if you are one of those.)

LiveXLive Acquires E-Commerce Company For $6M

socalTECH

Los Angeles-based LiveXLive Media , which operates a livestreaming and on-demand audio, video, and podcasting service, says it has signed an agreement to acquire Custom Personalization Solutions, LLC , in a deal worth up to $6M. According to LiveXLive, it signed a binding Letter of Intent to acquire CPS in an all stock deal, which is expected to close by December 31st, 2020. LiveXLive said that CPS had approximately $19M in revenue in 2019.

Adtech Company AudienceX Leans Into Diverse Clients, Proprietary Software

L.A. Business Journal

AudienceX is back on the growth trajectory

Private tech companies mobilize to address shortages for medical supplies, masks and sanitizer

TechCrunch LA

While some of the largest privately held technology companies, like SpaceX and Tesla , have shifted to manufacturing ventilators, smaller companies are also trying to pitch in and relieve scarcity locally. 3D-printing companies are working on new ways to manufacture personal protective equipment and swabs for COVID-19 testing. The World Health Organization approved their sanitizers, which the company will produce in its warehouse in San Francisco.

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LA-based gaming company, Scopely, expands in Spain and Ireland

TechCrunch LA

The Los Angeles-based gaming company, Scopely is expanding its geographical footprint in Spain and Ireland. The company is building out its Barcelona offices tripling its office space and planning to significantly expand its 100-person-strong team in the city. The company also plans to double its footprint in its hometown of Los Angeles in 2020.

Pepperdine Most Fundable Companies Showcase 2020.

SoCal Tech Calendar

Thursday, October 15, 2020 -- Pepperdine Most Fundable Companies Showcase 2020. Now in its third year, the Most Fundable Companies competition has grown to over 4,500 companies, and for the first time attracted startups from all 50 U.S. states.