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TrueCar Tops 500,000 Cars Sold

socalTECH

Santa Monica-based TrueCar , the online automotive purchasing program and technology developer, has just topped 500,000 cars sold on its platform, the firm reported this morning. The numbers reflect some momentum to the firm's services, which took five years to sell the first 100,000 vehicles.

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Digital Motors Names VP

socalTECH

Irvine-based Digital Motors , which develops an online car sales platform for car dealers, said this week that it has named Paul Edmonds as its VP of Customer Success. Digital Motors develops an online platform that allows car dealerships to offer up online sales, and was founded in 2018. READ MORE>>.

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This Week in VC – Scott Painter, CEO of Zag & TrueCar

Both Sides of the Table

The consumer product they’ve created is called TrueCar. Money to be used for hiring and additional product development. A social analytics platform for Facebook app developers and publishers that provides detailed demographic and engagement data. Investing much of new cash to build presence in Android platform.

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Reflections on 2020: Kelly Perdew, Moonshots Capital

socalTECH

Two new additions to our portfolio companies stand out in particular: NextCar (Scott Painters latest disruptive LA-based automotive market play) and Transmute (Karyl Fowlers Austin-based supply chain identity and credentialing platform). We look forward to seeing how AI and ML will continue to disrupt finance, CPG, big data, and SaaS.

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Why Has LA Suddenly Gotten So Much Attention from VCs and Entrepreneurs?

Both Sides of the Table

But many people forget that we have 2 relatively recent IPOs that are substantive companies: TrueCar (Upfront backed) & Cornerstone OnDemand. If you throw in Oculus into the mix along with TrueCar, Rubicon, Burstly, Beats and others LA Tech has seen more than $8 billion in exits in 2014 alone. Deflationary Economics now favors us.

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How to Develop Your Fund Raising Strategy

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He’s focused on that sector (not exclusively but predominantly) and therefore has an amazing network at large financial services firms to help you with business development. He knows the history of all of the payment gateways, mobile payment platforms, credit offerings, remittance companies, etc. Neither can any VC.

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Want to Start a Technology Company in LA?

Both Sides of the Table

It’s not uncommon for incredibly smart and talented Phd’s or CS majors from Stanford to raise $10 million on an early-stage “platform&# that if it succeeds it will be huge. But we do have great technology developers. You can hire a talented head of marketing, business development, technology and sales.

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