Wed.Jan 06, 2021

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Rivian Seeking New Funding At $25 Billion Valuation

socalTECH

Electric truck maker Rivian--which has operations in Southern California, despite being based in Michigan--is apparently in the midst of yet another funding, and is raising a round valuing the company at $25 billion, according to Bloomberg. The company just raised $2.5M over the summer from a number of investment companies, along with Amazon. Rivian has an office in Irvine.

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8 Strategies For Sustaining Momentum In Your Startup

Startup Professionals Musings

Every new business I know dreams of building momentum in their business, where growth continues to increase, customers become your best advocates, and employee motivation is high. The most common approach I see to achieving this is to do more of everything for everyone. Unfortunately, with limited resources, this isn’t possible, and it frustrates customers and the team.

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QAD Completes Allocation Network GmbH Acquisition

socalTECH

Santa Barbara-based QAD, which develops software for the manufacturing sector, said Tuesday afternoon that it has completed its acquisition of Allocation Network GmbH. Allocation Network GmbH was based in Munich, Germany. Financial terms of the acquisition were not announced. The company said the acquisition will strengthen its suite of products and services, plus support its cloud growth initiatives.

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LinQuest Completes TMC Design Acquisition

socalTECH

Los Angeles-based LinQuest, a provider of space systems and related technology for the defense and intelligence market, said it has completed its acquisition of TMC Design Corporation, a provider of engineering, development, and integration company with expertise in electromagnetics, digital signal processing, and radio frequency communications. Financial terms of the deal were not announced.

Design 113
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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.

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Alto Launches On-Demand Ridesharing, Delivery In LA

socalTECH

A Texas on-demand rideshare and delivery service is hoping to gain traction in Los Angeles, with an eye on the luxury market, saying on Tuesday that it has launched a new expansion into LA. The company says it offers up its rides in "five-star crash rated SUVs" and a team of "fully employed, rigorously vetted and trained uniformed" drivers. Unlike the incumbent ridesharing services, the company says all of its drivers are W2-employeed, and undergo background checks and also a safety and defense

Demand 113
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Green Dot Launches New Mobile Banking Effort, GO2bank

socalTECH

Pasadena-based Green Dot Corporation, which operates a number of prepaid payment cards and online banking services, says it is launching a new mobile bank called Go2bank. The company said the new bank is aimed specifically at Americans who are living paycheck-to-paycheck. The new banking offering--delivered via an app--offer up to $200 overdraft protection, early access to pay, credit tools, and more.

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