Tue.Jul 21, 2020

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VCs, celebrities, and athletes are writing a new LA story to bring women’s soccer to the city

TechCrunch LA

When Upfront Ventures partner Kara Nortman first met Natalie Portman a few years ago to talk about ways their non-profit organizations All Raise and Time’s Up could collaborate, she never realized they’d eventually be partners on a sports franchise. Now the two women are co-founders of Angel City, leading a gaggle of venture capital, sports, and celebrity investors, alongside Angel City co-founder and President Julie Uhrman, in bringing a National Women’s Soccer League team to

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Snap Revenues Rise as User Growth Slows

L.A. Business Journal

Snap Inc., the Santa Monica-based social media company, reported earnings results for the second quarter ended June 30. While the company has beaten revenue expectations, it continues to see an increase in net loss.

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HelpWith Black Equity Launches To Connect Volunteers With Racial Equity Efforts

socalTECH

A new effort-- HelpWith Black Equity , said on Tuesday that it has launched, to help connect people with time and skills to projects advancing racial equity across the globe. The new effort--powered by social impact company Deed, the company founded by former YCombinator President Sam Altman--said the new virtual, skills-based volunteering platform is based on a similar platform, HelpWith COVID, which was created by OpenAI CEO Sam Altman and others to help connect people helping in assisting wit

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Acadia Halts Work on Depression Drug After Late-Stage Trial Failure

Xconomy

Acadia Pharmaceuticals received the FDA’s OK for pimavanserin (Nuplazid), the first drug approved to treat hallucinations and delusions associated with Parkinson’s disease , in 2016. Since then, the San Diego company has looked to expand its use into other indications, with mixed results. That trend continued Monday when Acadia (NASDAQ: ACAD ) reported it would end its efforts to advance the drug as an adjunctive treatment for major depressive disorder (MDD) after preliminary data from a Phase 3

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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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Report: Snap Launches Investigation Into Racism, Sexism

socalTECH

Venice, California-based Snap Inc. has reportedly launched an investigation into accusations of racism and sexism in the company, according to a report from the Business Insider. The investigations are allegedly over "whitewashing" within Snap, and disparagement of Block representation in media, according to the report. Snap has not yet announced any information on the alleged investigation.

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VCs, Investors, Celebrities Back New Women's Soccer League For LA

socalTECH

Local venture capitalists, investors, and celebrities have launched an effort to bring a new, professional women's soccer team to Los Angeles, as part of the National Women's Soccer League (NWSL). According to Angel City --although it has yet to have an official name or venue--the group hopes to announce one before the end of the year. The new soccer league is backed by venture capitalist Kara Nortman (Partner at Upfront Ventures), actress Natalie Portman , along with Julie Uhrman (former Founde

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Taoglas Inks Distribution Deal With Arrow Electronics

socalTECH

San Diego-based Taoglas , a developer of RF antennas for the Internet-of-Things (IoT) market, says it has linked with electronics distributor Arrow Electronics. According to Taoglas, the partnership includes a new global distribution agreement focused on AI and IoT products and services. Taoglas said it will use ArrowÂťs sales and services organization to expand their customer base, grow ecosystem partnerships, and improve supply chain services.

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Datto, With New Offices In Irvine, Acquires Gluh

socalTECH

Datto , a developer of cloud-based software for the managed service provider (MSP) market--which just opened up a new office in Irvine--said that it has acquired Gluh Pty Ltd , an Australian company which develops software that allows MSPs to simplify procurement of IT products and services. Financial details of the acquisition were not announced. Datto is owned by private equity investor Vista Equity Partners.