Friday, September 8, 2017
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Luxe Acquired By Volvo In Asset Deal
Luxury valet and concierge parking startup Luxe, which was backed by Upfront Ventures and which used Los Angeles as one of its launch markets when it started in 2014, has been acquired by Volvo Cars, in an asset acquisition deal. Financial terms of the acquisition wer enot disclosed. Volvo said the buy would give it a "major boost in the development of digital services that simplify consumer experience." Luxe has been looking for a buyer since last year, when it abandoned its original business o (More info...)

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Facebook Plans to Spend $1 Billion Next Year On Content
In a move which will no doubt be music to Hollywood's ears, Facebook is reportedly planning to spend as much as $1 billion next year on building out its own, original video content. According to the WSJ, the spending will go towards making Facebook a destination site for people looking for television shows on its "Watch" video tab. The rush by technology sites to create their own shows has greatly benefited the Los Angeles movie, television, and content business, particularly with original progr (More info...)

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Hulu, Spotify Team For $5 A Month Bundled Service For Students
Los Angeles-based streaming television provider Hulu, and streaming music provider Spotify, hoping to hook college students on their services, said on Thursday they are rolling out a new entertainment streaming bundle for U.S. college students. The new service costs only $4.99 a month, and lets students not only stream music but also stream television shows and movies from Hulu. The two said the new Spotify Premium for Students gives access to both Spotify Premium and to Hulu's Limited Commerci (More info...)

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Bitcoin IRA Aims At Making Bitcoin Investments Part Of Your Retirement Fund, a new Los Angeles startup, said it has launched a new service which will let individuals to make investments in such cryptocurrencies as Litecoin (LTC), Ethereum Classic (ETC), and Bitcoin Cash (BCH), as part of an IRS-approved retirement account. The company said it is looking to allow its customers to "build a retirement portfolio with Bitcoin and altcoins."

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Maestro Finds $3M For Esports Engagement, Analytics
Los Angeles-based Maestro, a new startup developing engagement and analytics software for the e-sports industry, has raised $3M in a Series A funding. The funding was led by Hersh Interactive Group, and also included Rubicon Venture Capital and the Stanford-StartX Fund. The company also said it previously raised an earlier $2.8M in seed funding from 500 Startups, Scrum Ventures, Three Six Zero Group, and Larry and Drew Marcus, partners at Walden Venture Capital. Maestro is led by founder and CEO (More info...)

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Digital Domain Helps Deutsche Telekom Launch New VR Site, Magenta VR
Los Angeles-based Digital Domain said late Thursday that it has partnered with Deutsche Telekom, to create a new virtual reality destination called Magenta VR. According to Digital Domain, Magenta VR bundles the best VR content from the fields of sports, music and entertainment. Digital Domain said it created four, original pieces of VR content for Deutsche Telekom as part of the new VR site, which also includes VR content from Red Bull, National Geographic and Twentieth Century Fox.

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Fitbit, Dexcom Team on Glucose Monitoring For Diabetics
San Diego-based continuous glucose monitoring device maker Dexcom, and fitness wearables maker Fitbit said on Thursday that the two are in a new collaboration, which will incorporate Dexcom's data directly on Fitbit's Ionic wearable. The two said the effort is aimed at helping people better manage their diabetes and get a more complete picture of their overall health. The Fit bit Ionic is Fitbit's new smartwatch. According to the two, Dexcom's continuous glucose monitoring device will feed its i (More info...)

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Illumina Sues Premaitha Health Over Patents
San Diego-based life sciences equipment developer Illumina says it has filed a new patent infringement suit against Premaitha Health plc, in the United Kingdom. According to Illumina, its new suit accuses Premaitha of infringing upon European Patent (UK) 1 524 321 B2 titled, "Non-invasive Detection of Fetal Genetic Traits". Illumina said that the patent in question is exclusively licensed to Illumina from Sequenom. Illumina has a number of lawsuits filed against Premaitha, accusing the firm of i (More info...)

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CoreLogic Donates $250,000 To Disaster Fund
Irvine-based CoreLogic, which provides property information and data for the real estate industry, says it has committed $250,000 to the HOPE Disaster Fund, a fund run by Operation HOPE to help disaster survivors with financial recovery. The two said Operation HOPE provides such services as emergency budgeting and credit counseling, assistance with deferring mortgage payments and communicating with creditors, support obtaining SBA loans, help with obtaining copies of destroyed financial document (More info...)

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Tech Coast Map & Calendar – Put Your Company On The Map!
Include your company on the Tech Coast Map and be part of the iconic industry symbol of Technology Innovation in Southern California. The map is promoted through Print, Digital, and web with an online interactive version of the map.

Take part in the effective map campaign to support your region, brand and location(s) while promoting your company as an industry leader. The custom imprinted Poster/Calendars make the perfect promotional year-end gift for stakeholders. View the large interactive map at

Contact for more information and mention Socal Tech for special industry rates.

Square 1 Bank
Square 1 Bank is a division of Pacific Western Bank, a Los Angeles-based commercial bank with over $21 billion in assets. A full service financial services partner to entrepreneurs and their investors, Square 1 provides clients flexible resources and attentive service to help their companies grow. Square 1 offers a broad range of venture debt, treasury and cash management solutions through offices in top innovation centers: Atlanta, Austin, the Bay Area, Boston, Chicago, Denver, Durham, Los Angeles, Minneapolis, New York, San Diego, Seattle and Washington, DC. Pacific Western Bank is a wholly-owned subsidiary of PacWest Bancorp (NASDAQ:PACW). For more information, visit, or send an email to

Stubbs Alderton & Markiles Preccelerator
Accelerating Growth for Early Stage Innovation

The Preccelerator® Program is a platform offered to select start-up companies out of the Santa Monica office of Stubbs Alderton & Markiles, LLP that provides interim office space, sophisticated legal services, mentorship and access to a strategic perks portfolio with the objective of helping you grow your idea from business concept to funded startup. The Preccelerator® Program provides these benefits to as many as 10 promising young startups in separate growth tracks.

Stradling, Attorneys At Law (

Stradling Yocca Carlson & Rauth (“Stradling”) is a premier business law
firm with over 125 attorneys and 10 offices in the western US. The offices are: Newport Beach, Santa Barbara, Santa Monica, San Diego, San Francisco - SOMA, San Francisco - Financial District, Sacramento, Reno, Denver, Seattle. The Firm’s corporate, litigation and public law practices are well known for their expertise and depth. Stradling's clients include emerging and high growth public and private companies as well as private equity funds, venture capital groups and their respective portfolio companies. Widely recognized for its expertise, responsiveness and outstanding client service, the Firm's size, structure, and culture allow it to provide the highest quality representation while maintaining the responsiveness and relationships commonly associated with smaller firms.

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