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Struggling EV firm Faraday Future gets another financial lifeline with new $225M investment

TechCrunch LA

The company has yet to enter mass production five years after its launch, mainly as a result of a series of financial issues that have ended in layoffs, unpaid wages, furloughs, property selloffs and much more. Faraday has since sought alternative investment. It has also put its 900-acre, $40 million property in Las Vegas up for sale.

Invest 143
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Take advantage of the good times to build stakeholder loyalty.

Berkonomics

If there is no closer connection to the corporation, when times are tough for any reason, it is these employees that make it tough for management to gain understanding and consent for actions that must be made such as missing payrolls, making layoffs, or abandoning pre-announced plans. Investor loyalty is most tenuous of all.

Layoffs 240
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TorreyPines Therapeutics Hires Investment Banker

socalTECH

La Jolla-based TorreyPines Therapeutics said Wednesday that the firm has hired on investment bank Merriman Curhan Ford as a financial advisor. TorreyPines said that Merriman Curhan Ford will help the firm assist in evaluating "strategic options," including sale of the company or its assets.

Invest 100
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Interview with Minnie Ingersoll, TenOneTen Ventures

socalTECH

I've been going through the startup journey, and just finished our Series D investment. What does TenOneTen Ventures invest in? Minnie Ingersoll: We do early stage investing. It's not necessarily to be the sales person, but to be able to sell me on the vision. What's the hardest part of being a startup entrepreneur?

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Wag Buys Back Stake From SoftBank, Now Seeking Buyer

socalTECH

Los Angeles-based on-demand, dog walking service Wag has bought back its stake from Softbank, and is now seeking a sale, according to CNBC. The sale comes less than two years after SoftBank invested $300M in Wag , via the SoftBank Vision Fund.

Demand 100
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TorreyPines Therapeutics Looks For Buyer

socalTECH

La Jolla-based TorreyPines Therapeutics said Wednesday that the firm has hired on investment bank Merriman Curhan Ford as a financial advisor. TorreyPines said that Merriman Curhan Ford will help the firm assist in evaluating "strategic options," including sale of the company or its assets.

Layoffs 100
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OneRoof Energy Cuts Staff, Realigns Business

socalTECH

San Diego-based residential solar installer OneRoof Energy has cut its staff, and says it is in a major realignment of its business operations to tap into consumer services providers and partners, rather than invest in its own direct sales. Size of the cuts were not announced by the company. READ MORE>>.

San Diego 113