Mon.Dec 12, 2022

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7 Stages In The Evolution Of A Startup To A Business

Startup Professionals Musings

As a business advisor, I have too often seen technical entrepreneurs get a product or service off the ground with ease, but then struggle mightily when their business reaches a couple of million in annual sales, or the employee count grows beyond a handful. It’s at this stage that the job changes from creative and tactical to managerial and strategic.

Startup 137
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RepairSmith Acquired By AutoNation For $190M

socalTECH

Los Angeles-based mobile automotive repair and maintenance startup RepairSmith has been acquired by automotive retailer AutoNation said on Monday. According to AutoNation, it will pay $190M for RepairSmith, in a deal which is expected to close in the first quarter of 2023. AutoNation says RepairSmith has significant operational footprint in the southern and western United States.

Mobile 113
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Rivian Pauses Deal with Mercedes-Benz

socalTECH

Irvine-based electric vehicle manufacturer Rivian said this morning that it will "no longer pursue" the Memorandum of Understanding with Mercedes-Benz, where it would co-produce electric vans in Europe with Mercedes-Benz. According to Rivian, the deal--which it only announced a few weeks ago--was paused so it can "pursue the best risk-adjusted returns on our capital investments", and so it can focus on its "current consumer product development roadmap and manufacturing capacity expansion as well

Invest 113
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MeetKai Ties With LA Chargers

socalTECH

Los Angeles-based conversational artificial intelligence (AI) software developer MeetKai said this morning that it has partnered with the Los Angeles Chargers. According to the company, it has become the "Official AI partner" of the Chargers. Financial details of the deal were not announced. According to MeetKai, it will be developing an "AI-based locker room tour" plus will have its logo at the Chargers' home and away media backdrops.

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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.