Hyperloop One reveals development site
At the Middle East's biggest exhibition of transportation technology early this week, Arts District-based Hyperloop One revealed photos of the startup's Nevada development site, which will feature the company's second ever full-scale test later this year. The site, 30 minutes from Las Vegas in the Nevada desert, features a1,600-foott DevLoop with a diameter of 10.8 feet. [Press Release]
5 startups announce key leadership changes
As more local startups look to add to their teams, even senior-level employees found themselves on the move. This week, a number of companies announced the additions of key leaders to their businesses, and the trend doesn't seem to stopping any time soon. [Built In LA]
Snap IPO: Everything you need to know
In the week since Snap started trading publically, a number of stories have broken regarding the rapid ascent the company experienced on the stock market.
NBCUniversal went all in on Snap as trading began, investing $500 million in the company. The move is being described as a strategic investment and partnership for the media giant. It's not the first, however, as the subsidiary of Comcast has invested a combined $600 million in Buzzfeed and Vox, to date. [CNBC]
As early investors raised their arms in triumph as Snap's stocks jumped in trading, an unlikely group realized just how fortunate they are to have well-connect students. Saint Francis High School in Mountain View invested $15,000 in Snapchat back in 2012 at the behest of Barry Eggers, founder of Lightspeed Venture Partners, whose children went to the school. Needless to say, the move paid off, and now the school's stake is valued in the millions. [CNN]
Creators Media announces indie gaming vertical
Creators Media, the parent company of Movie Pilot, Now Loading and Champions, announced the launch of PlaySource, an independent gaming vertical designed to foster collaboration between game creators and fans. Games that are a part of the vertical will have their own page where creators can keep fans up-to-date. [Creators Media]
PlusLivin launches website catered to plus-sized individuals
PlusLivin, a site dedicated to connecting users with businesses that cater to plus-sized individuals, is officially live. The site also allows businesses to create their own listings for consumers to browse at their leisure. [Press Release]
Fundings of the Week
Conversion Logic, $9 million
Investors: Pelion Venture Partners, Rincon Venture Partners, Crosscut Ventures, Lerer Hippeau Ventures, Founder Collective, Revel Partners and TenOneTen.
Conversion Logic, which develops a cross-channel attribution SaaS platform that provides media performance insights for enterprise marketers, announced the addition of $9 million this week. The company's plans for using the funds include investing heavily in sales and marketing and doubling their headcount. [Built In LA]
iExhale, $1.86 million
Investors: Dorilton Capital
Mental health startup iExhale received a $1.86 million seed funding this week to help spur development on the company's on-demand therapy service. Founded in 2015, the company matches users with licensed mental health professionals. [SoCal Tech]
Betagig, $1.6 million
Investors: Altpoint Ventures
Betagig, a service that allows jobseekers to beta test their next potential job, announced the company had raised a $1.6 million seed from Altpoint Ventures. The company will use the funding to support internal and external growth as the year-old company continues to scale. [Betagig]
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