Fri.Oct 23, 2020

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Quibi's Last Day Likely December 1st

socalTECH

High flying content streaming service Quibi --which has spectacularly flamed out only seven months after its formal launch--looks to be officially shutting down its service on December 1st, according to a notice posted on the company's support pages. Quibi said it is unsure of if the content on the service will be available after that date, as the company said Wednesday that it is looking for a buyer for both its content and technology assets.

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7 Keys To Moving Your Best Of Breed Odds Up A Notch

Startup Professionals Musings

Everyone who starts or owns a business expects to be the best of breed, but only a few achieve that status. As a startup mentor and advisor, I often contemplate what makes the difference between winners and losers. I’m convinced that it’s a lot more than the foibles of any specific market, availability of funding, and just luck of the draw. I believe the best make their own luck.

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Polycade Takes On PC Gaming

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Los Angeles-based Polycade , which is backed by Founders Fund, Wavemaker Partners, Rashaun Williams and Eric Campbell, and has been part of the Comcast/NBCUniversal LIFT Labs accelerator powered by Techstars, said it has announced a new product, which turns any PC into an arcade gaming system. The company--which was founded by Jake Galler and Tyler Bushnell, son of Atari and Chuck E.

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Oblong Gets $3.0M In Private Placement

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Los Angeles-based a href="[link] , which develops futuristic remote collaboration and meeting products, said Thursday afternoon that the company has raised approximately $3.0M through a private placement. The publicly listed company--which trades on the NYSE American as OBLG--said the private placement came from un-named set of institutional and accredited investors. $2.5M of that private placement went to pay back Silicon Valley Bank on a $5.6M loan agreement.

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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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Clearlake's Symplyr Acquires Another Firm, TractManager

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One of the portfolio companies of Santa Monica-based private equity investor Clearlake Capital Group is on an acquisition roll, acquiring yet another company. Clearlake said that Symplr , its portfolio company offering up healthcare governance, risk management, and compliance software-as-a-service, has acquired TractManager , a provider of contracting, sourcing, and provider management software for the healthcare industry.

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Report: 3 out of 5 Gig Workers Now Making Less Than $1000 Per Month

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A new report from a Bay Area venture capital firm says that three out of 5 "gig" workers are now making less than a total of $1000 per month, having been hard hit by the ongoing pandemic. The report , from Flourish Ventures, says it surveyed 700 gi wokers across Atlanta, Chicago, New York, Philadelphia, and San Francisco, and found that 68% of those gig workers reported a decline in their total income during the COVID-19 pandemic.

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