Tech Roundup: Snapchat makes major moves, GrubHub acquires LAbite and more

Snapchat introduces e-commerce ads in wake of Olympics deal

announced it would begin testing e-commerce ads in the form of 10-second video advertisements. The ads will link to an in-app browser that allows users access to sponsors' e-commerce sites. Snapchat and NBC also announced a partnership that would allow the Venice-based company to post daily "live stories," in addition to NBC Rio Olympics discover channel, co-produced by NBC and Buzzfeed. [Snapchat Rolls Out E-commerce Ads: LA Business Journal; NBC Olympics and Snapchat form 2016 Rio Olympics Partnership: Comcast]

Three LA-based tech nonprofits receive 2016 Google RISE Award

San Fernando-based DIY Girls and LA-based LA Makerspace and TXT: Teens Exploring Technology received awards for their efforts to increase access to computer science education among LA's youth. The three organizations provide computer science education to underserved students across LA. [Celebrating RISE Awards Winners Who Are Helping Increase Diversity in CS Education: Google for Education]

Instagram influencer marketing company TheAmplify sells majority stake

Culver City-based

TheAmplify

View Profile

, a network of social media personalities selling endorsements, has sold a majority stake to You & Mr Jones. Terms of the deal were not announced. TheAmplify plans to extend its market to China and plans to use the added resources of You & Mr Jones to do so. [TheAmplify Sells Majority Stake: Los Angeles Business Journal]

United Online acquired by B. Riley Financial

LA-based United Online, a consumer services and products provider, was acquired by B. Riley Financial for $170 million. The deal, which had been in the works for some time, was originally thought to be worth $185 million. The acquisition follows a tumultuous several months for United Online which saw them sell off multiple assets. [B. Riley Financial (RILY) to Acquire United Online (UNTD) in $170M Deal: Street Insider]

GrubHub acquires LAbite

LA-based restaurant delivery service

LAbite

View Profile

was acquired by GrubHub for $65 million. LAbite reported diners ordered almost $80 million in gross food sales in 2015, and the move was seen.GrubHub also reported a 6% decrease net income on a year-over-year basis, leading the company's shares to fall over 7%. [Grubhub Reports Record First Quarter Results: GrubHub]

Fundings of the Week

Levyx

View Profile

, $5 million

Investors: Sumavision, Amino Capital, OCA Ventures

Irvine-based Big Data startup Levyx announced a $5 million round of financing. The company, which develops technology to cut costs associated with applications for big data, plans to use the money towards product development and sales and marketing. [Big Data Start-Up Gets $5M: Orange County Business Journal]

Age of Learning

View Profile

We are hiring

, $150 million

Investors: Iconiq Capital

Glendale-based education startup Age of Learning has raised $150 million at a $1 billion valuation from Iconiq Capital. The company produces one of the highest-grossing education apps used today in ABCmouse. Age of Learning offers free classroom accounts to public and private schools, libraries and other community organizations.

[Age of Learning, a quiet giant in education apps, raised $150M at a $1B valuation from Iconiq: Tech Crunch]

Have a tip? Let us know or follow us on Twitter @BuiltInLA

Recent Articles