Hyperloop One reveals plans for UAE
Hyperloop One is back in the news as the Arts District-based company prepares for their much anticipated Q1 demonstration of their revolutionary transportation project. This week, however, the company released its plans for United Arabs Emirates, revealing their idea for getting commuters from Dubai to Abu Dhabi, a trip which normally takes hour and a half by train, in just 12 minutes. [Press Release]
Google reveals itself as a backer of Snap, Inc.
Late last week, Google Capital, the late-stage investment firm owned by Alphabet (aka Google) confirmed it was a backer of Snap, Inc. (aka Snapchat) by listing the Venice-based startup on its portfolio page. [SoCal Tech]
Headspace partners with Spotify
Headspace, the Santa Monica-based meditation app, announced earlier this week a partnership with Spotify, the ultra-popular music streaming app. They will offer a single bundled subscription allowing users access to both companies' premium sites for around $16.50 a month, as opposed to paying more separately. [Venture Beat]
Stubbs Alderton & Markiles names latest Preccelerator® Program class
Stubbs Alderton & Markiles, LLP announced its most recent Preaccelerator class this week, introducing three diverse companies to the firm's growing roster. Ballerz World, a marketplace which uses geo-location technology to connect users to organize basketball games, StyleMD, an app which connects users with fashion stylists on any budget and PlayspaceVR, which is using VR/AR to help creators share their graphic novels in a new way all started at the Santa Monica-based program in October. [Press Release]
Rufus Labs IBM SmartCamp pitch competition
LA-based wearable technology company Rufus Labs won the Los Angeles IBM SmartCamp pitch competition. The company builds on a strong 2016, which saw the company graduate from San Fernando Valley-based Make In LA, an early-stage accelerator created to support technology-enabled hardware companies. [Built In LA]
Fundings of the Week
Hollar, $30 million
Investors: Kleiner Perkins Caufield & Byers, Comcast Ventures Greycroft Partners. Lightspeed Venture Partners, Index Ventures, Forerunner Ventures and Pritzker Group.
Hollar, a Santa Monica-based budget e-commerce site, was on the receiving end of a $30 million Series B earlier this week. The company plans to use the funds to personalize customer experience, as well as move the corporate office and warehouse to a former 99 Cents Only Stores facility. [Built In LA]
Images via Facebook and Shutterstock.
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