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Report: Backstage Capital Shifting To Accelerator Model After Fundraising Issues

socalTECH

West Hollywood-based venture investment firm Backstage Capital is shifting entirely to an accelerator model, according to reports today, after failing to raise a new, $36M venture capital fund. The report--from Axios--said the fund is now entirely focused on its accelerator, Backstage Studio, and also has been cutting staff.

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Silicon Beach Report May 14: Disney Buys Out Hulu Stake

L.A. Business Journal

Bird working to integrate Apple Pay; Comcast sells Hulu stake; Crypto hackers arrested after West Hollywood theft

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Report: CityGrid Lays Off Two Thirds Of Staff

socalTECH

A report this morning says that West Hollywood-based CityGrid , the parent firm of CitySearch, Urbanspoon, and InsiderPages, has laid off two thirds of its staff. The layoffs--reported by TechCrunch-- reportedly affected 130 people.

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Silicon Beach Report June 15: Scopely Raises $60 Million

L.A. Business Journal

Scopely raises $60 million, VentureDevs to open West Hollywood office, and tech startup HelloTech powers Altice service.

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LA County Detectives Bust Cryptocurrency Hacking Group

socalTECH

Detectives from the Los Angeles County Sheriffs Departments Fraud & Cyber Crimes Bureau say they have arrested a suspect in a $2.4M, cryptocurrency heist, where a citizen of West Hollywood reported being a victim of a large cryptocurrency theft.

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Ticketmaster To Sell Tickets Via Facebook

socalTECH

West Hollywood-based Ticketmaster is getting set to start selling tickets directly within Facebook by the end of the month, according to reports. The company said the move will provide a more seamless purchase experience , and ultimately sell more tickets, particularly around events. READ MORE>>.

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Orbitera Acquired By Google For More Than $100M

socalTECH

West Hollywood-based Orbitera , which develops cloud-based software for managing leads, trial subscriptions, and billing, has been acquired by Google , Google said on Monday. Financial terms of the acquisition were not disclosed. Orbitera was backed by only $2M in a seed funding it received a year ago from Resolute Ventures.

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