Fri.Feb 15, 2019

Rivian, With Operations In Irvine, Raises $700M From Amazon For Electric Pickups

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Rivian , a developer of electric powered pickups and SUVs--which has significant operations in Irvine--has raised $700M in a funding round, the company announced Friday morning. The funding was led by Amazon. According to Rivian, its first two vehicles--the R1T and R1S--provide over 400 miles of range, and are expected to be delivered in late 2020. The company is led by founder and CEO RJ Scaringe.

Sharing Ownership

SoCal Tech Calendar

Tuesday, February 19, 2019 -- Sharing Ownership. CSULB Beach Incubator. Attorney Rick Citron. Mr. Citron is an attorney and entrepreneur specializing in business law, real estate, and succession planning. With over 40 years of experience in practicing law, Mr. Citron has contributed to the success stories of hundreds of companies, utilizing his experience and the synergy of a carefully nurtured network of professionals. See [link] (more

Avetta Merges With BROWZ

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Irvine-based Avetta , a provider of supply chain management software, has merged with another supply chain risk management company, BROWZ , the companies said this week. Avetta is owned by private equity investor Welsh Carson Anderson & Stowe. The combined firm says it has more than 85,000 customers in over 100 countries. Financial terms of the merger were not announced. The combined company will be led by John Herr, the CEO of Avetta.

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“Stigma is Going Away”: Cannabis IP is Thorny, But Not Impossible

Xconomy

No longer solely the provenance of hippie or outlaw types, the U.S. cannabis industry has become more sophisticated and tech-enabled as it has come out of the shadows over the past decade.

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TrueCar Buys Stake In Accu-Trade

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Santa Monica-based TrueCar announced late Thursday that it has acquired a 20 percent stake in Accu-Trade , a provider of vehicle apparisal technology. Financial terms of the deal were not annoucned. Accu-Trade, which is based in Manheim, Pennsylvania, and provides a mobile app which offers up vehicle appraisals and valuations for dealers and consumers.

Bio Roundup: Trump’s Scalps, Policy Pressure, NASH Crash & More

Xconomy

While politicians continue to debate what kind of healthcare system is best for the American people, the mostly U.S.-based based pharmaceutical industry is trying to convince those same politicians—and anyone else who will listen—that what’s good for the industry is also good for America. Forcing drug prices lower, industry argues, would be bad for our health, because lower revenues mean less innovation.

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Bill Maris Fund Section 32 Notches Two Wins with Life Science Exits

Xconomy

Section 32, a venture capital firm headquartered near San Diego that launched in 2017 with a $151 million fund, has had a big month. The firm, based in San Diego’s coastal Cardiff-by-the-Sea community, was started by Bill Maris , who launched and previously headed Google’s corporate venture investment arm, GV (originally called Google Ventures).

Pulse Electronics Acquired By Yageo

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San Diego-based Pulse Electronics , a provider of electronic components, said Thursday afternoon that it is now 100 percent owned by Taiwanese company Yago Corporation. Financial details of the deal were not announced. The deal to acquire Pulse occurred in May of 2018, and completed in December, according to the companies.

Netflix LA Locked Down After Disgruntled Employee Makes Threat

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The Los Angeles offices of online movie streaming service Netflix were briefly locked down late Thursday afternoon, after a disgruntled, recently fired employee allegedly said he had a gun and was in the company's parking lot. The lockdown was later lifted, after the disgruntled former-employee was taken into custody. No gun was found, and according to KTLA the man was ultimately released. The man apparently had been fired on Wednesday from Netflix. READ MORE>>.

REX Expands AI Powered Real Estate Brokerage To Orlando, Florida

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Woodland Hills-based REX , an online real estate brokerage, says it has opened up for business in Orlando, Florida, and hopes to expand to additional Florida cities over the next few months. According to REX recently raised a big $45M Series C funding round, and has raised $75M in total for its real estate brokerage efforts. The company now has operations in California, Colorado, Florida, New Jersey, New York, Oregon and Texas. READ MORE>>.

Interview with Skyler Lucci, HeyTutor

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Skyler Lucci is co-founder and CEO of Los Angeles-based HeyTutor (www.heytutor.com), a startup which has created an online platform which connects and matches students with in-person tutors. The company recently raised a round of funding from Santa Barbara-based ScOps Venture Capital. We caught up with Skyler to hear about HeyTutor, which already has 25 employees and is growing rapidly.