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Report: Snapchat Opens Credit Line From Morgan Stanley

socalTECH

A report says that Venice, California-based instant messaging app developer Snapchat has just opened up a new line of credit from Morgan Stanley. The report--from Recode--cites "multiple sources" in the report, and speculates that Snapchat is looking to avoid further shareholder dilution and equity.

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Snapchat, R/GA Partner For New Startup Accelerator

socalTECH

the parent firm behind Snapchat , has joined up with R/GA Marketing --which helps run the Dodgers Accelerator in Los Angeles--to launched a new startup accelerator, the R/GA Marketing Tech Venture Studio with IPG. Venice, California-based Snap Inc. ,

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Snap Sets New Human Resources Chief

socalTECH

Santa Monica-based Snap, the parent company of Snapchat, said late Tuesday that it has named Darcie Henry as the company's new Chief Human Resources Officer. According to Snap, Henry will join the company on July 6th, as current Chief People Officer Lara Sweet is retiring.

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Wave.tv Snags $32M For Sports Media

socalTECH

Los Angeles-based Wave.tv , a sports media company focused on Instagram, Snapchat, Facebook, Youtube, and Tiktok, said this week that it raised $32M in its Series A funding round. The funding--which included both equity and debt--was led by CoVenture and GPS Partners, and also included existing investor Golden Ventures and Sweet Capital.

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Snap’s Yellow accelerator debuts its third batch of investments

TechCrunch LA

Snap invests $150,000 in each Yellow startup for an equity stake, and while the program does not require batch participants to integrate with Snap’s services, the company has used the program to invest in strategic areas that it has also pushed on the product side. Now Su says he’s fielding plenty of augmented reality pitches.

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SV Angel's David Lee Resigns To Spend More Time In LA

socalTECH

It's unclear if Lee will be joining one of LA's venture capital or private equity investors, but any such move by Lee would bring some serious new investment firepower and connections to the local venture market. SV Angel has been an early investor in such unicorns as Airbnb, Dropbox, Snapchat, and Pinterest. READ MORE>>.

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Digest 5/9-15: Hyperloop One’s Big Week; uBeam Accusations; Snapchat Moves into Santa Monica

LATechDigest

SNAPCHAT Expands into New Offices at Santa Monica Airport ( link ). COMPARABLY Adds Equity Calculator ( link ). Here’s what’s new in LA’s tech space: Behind the Scenes at SMASHD LABS , Open for Accelerator Submissions ( link ). HYPERLOOP ONE Raises $80M Series B, Launches Test Track ( link ).