Wed.Mar 17, 2021

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Swell Energy’s new deal in New York shows how the company plans to spend the $450 million it’s raising

TechCrunch LA

Back in December, Swell Energy said it would be raising $450 million to support the development of distributed power projects in three states. Now, with the announcement of a deal between the venture-backed startup and New York City’s utility, ConEd, industry watchers can get a glimpse of what those projects may look like. The Los Angeles-based company has a new residential solar plus energy storage program for homeowners in Queens that’s going to be rolled out in partnership with Co

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5 Ways To Be Successful In Business Despite Bad Luck

Startup Professionals Musings

If you have had some success in a business, I’m sure you bristle just like I do when someone says “You were just lucky…” I’m a strong believer that we all make our own luck, which means that the harder we work, the luckier we get. In reality, “hard work” is just a catch-all term for a list of principles that good entrepreneurs follow, allowing them to work smarter and improve their odds of success.

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Snap Buys Fit Analytics

socalTECH

Venice, California-based Snap said on Wednesday that it has acquired Fit Analytics, which is developing machine learning technology which helps people figure out what clothing or shoes might fit them best. Financial terms of the acquisition were not announced. Fit Analytics is based in Berlin, and has around 100 employees. Fit Analytics' technology lets users enter their measurements and preferences, and uses that to help match those users to clothing available through online retailers.

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Bankers As Buyers 2021

Steve Reich

I was honored to co-author an article with Jill Homan, President, DeepTarget for this year’s edition. Many thanks to William Mills Agency for including us. You can download a copy here.

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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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Find My Vax LA Looks To Streamline Vaccine Appointments

socalTECH

Find My Vax LA, a new website created by developer Andrew Friedman, is looking to help streamline vaccine appointments in Los Angeles County, allowing users to find both confirmed and possible available appointments. According to the website, it aggregates multiple vaccine providers sites--including myturn.ca.gov, carbonhealth.com/covid-19-vaccines/los-angeles, riteaid.com, and kaiserpermanente.org--and also tweets out as new appointments become available.

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Viasat Gets Renewal From US Navy

socalTECH

Carlsbad-based satellite wireless equipment and services provider Viasat reported today that it has received a renewal contract from the U.S. Navy, and will continue to offer up managed internet, Wi-Fi, voice, and other services fro personal use networks across Navy facilities worldwide. Financial details of that contract renewal were not announced.

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Activision-Blizzard Cuts Around 190, Says Report

socalTECH

Los Angeles-based videogame developer Activision-Blizzard has reportedly laid off around 190 employees, or 2 percent of its workforce, according to a report from Bloomberg. The cuts also include a large cut, of 50 employees, from Activision's esports division, according to that report. Those 50 employees apparently had been part of live esports events, which have been on hold as a result of the pandemic.

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Prometheus Biosciences Raises $218.5M In IPO

socalTECH

San Diego-based biotech Prometheus Biosciences has raised $218.5M in its IPO, and is now trading on the Nasdaq as RXDX. The company--which is focused on discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment of inflammatory bowel disease (IBD)--had its IPO underwritten by SVB Leerink, Credit Suisse, Stifel and Guggenheim Securities.

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Riot Games Clears CEO In Misconduct Allegations

socalTECH

Los Angeles-based videogame developer Riot Games said on Tuesday that a special committee has cleared its CEO, Nicolo Laurent, of alleged misconduct. Riot Games said that it hired an outside law firm, Seyfarth Shaw LLP, to investigation the allegations. The firms said a special committee of the board reviewed results from the outside investigation and concluded that "there was no evidence that Laurent harassed, discriminated, or retaliated against the plaintiff.