Fri.Dec 22, 2017

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SpaceX Launches Iridium Satellites Into Space In Stunning Light Show

socalTECH

Hawthorne-based SpaceX successfully launched a payload of ten satellites into space for satellite constellation operator Iridium on Friday evening, from Vandenberg Air Force Base--in a launch which turned heads across the Los Angeles area. SpaceX placed 10 Iridium satellites in the Iridium-4 mission, putting a "flight tested" Falcon 9 into space at 5:27 p.m.

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Silicon Beach Report Dec. 22: CNN Cancels Snapchat Show Due to Unclear Path to Profit

L.A. Business Journal

CNN cancels Snapchat show due to unclear path to profit; FabFitFun expands distribution with app for Apple TV and Amazon Fire; and Facebook and Universal Music strike multi-year licensing deal.

Snapchat 113
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Amazon Acquires Ring's Video Doorbell Competitor, Blink

socalTECH

E-commerce giant Amazon has acquired wireless camera maker Blink , one of the competitors to Los Angeles-based video doorbell maker Ring , Blink said Friday. Financial details of the acquisition were not announced. Ring, led by serial entrepreneur Jamie Siminoff, has seen enormous success in adoption of its smart, connected doorbells, which let users answer the door remotely, record video of visitors (or burglars), and more; the company also has expanded into security cameras.

Commerce 124
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5 Steps To Reduce Due Diligence Investment Failures

Startup Professionals Musings

In my activities as an angel investor, and my work with new ventures seeking investment, I find the “due diligence” stage to be fraught with the most risk. Usually this stage only really starts after an investor has expressed serious interest, or already informally agreed to invest. Most founders consider the story already told and the deal pending, so they aren’t sure what more then can do.

Invest 59
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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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FabFitFun Launches TV App, Expands Video Efforts

socalTECH

West Hollywood-based online lifestyle brand FabFitFun said on Thursday that it is planning to "significantly" expand its video content, with the launch of a new FabFitFunTV App and more videos and content for its streaming service, FabFitFunTV. The company said the app is launching initially on Apple TV and Amazon Fire, and will roll out on Roku next year.

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Ignyta To Be Acquired By Roche For $1.7 Billion

socalTECH

San Diego-based precision medicine developer Ignyta has agreed to be acquired by biopharmaceuticals giant Roche , in a $1.7 billion deal, the two said late Thursday evening. According to the two, they are in a definitive merger agreement, where Roche will acquire Ignyta for $27.00 per share in cash, or $1.7 billion. The companies said the price is a premium of 74% on Ignyta's closing price on Thursday.

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Faraday Future Reportedly Raises $1 Billion In Funding

socalTECH

Los Angeles-based Faraday Future , the troubled electric car maker, has reportedly raised $1 billion in new funding, according to a Chinese publication. The company has not announced the alleged funding round in the United States, and there has been no additional confirmation of the funding. Faraday Future recently lost its chief designer , along with three other key executives , and employees apparently had stopped showing up for work sometime in November.

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Tech Scenes: Nick Green of Thrive Market

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Welcome to Tech Scenes where we explore what makes tech founders and the cities they live in thrive. In this solo episode we meet up with Nick Co-Founder and Co-CEO and talk about Thrive Market, affordable healthy living, learning how to mange 'insane' growth, giving back, providing engineers a good reason to migrate south to Los Angeles, and as an entrepreneur solving a problem you care about.

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Section 32, Led By Former Google Ventures' Bill Maris, Aims At $250M Second Fund

socalTECH

San Diego-based Section 32 , the venture capital investment fund of former Google Ventures CEO and founder Bill Maris, is looking to raised $250M for its second fund, Section 32 Fund 2. According to a regulatory filing detailing the new fund, so far the fund has yet to sign up its first investor. Section 32's first fund, worth $151.3M, was only raised in May.

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