4 local startups involved in acquisitions this week
Another busy week in LA tech saw a number of local startups getting in on the acquisition game. Legacy.com, Edlio, Naritiv and Xypro were all involved in M&A's this week, with Naritiv and Legacy.com selling controlling interest to outside organizations. [BRead more here]
Machinima names new CEO
Burbank-based Machinima, which was acquired last year by Warner Bros., announced this week that its CEO, Chad Gutstein would be stepping down as CEO. Russell Arons, SVP Worldwide Marketing at Warner Bros Interactive Entertainment, which had invested heavily in Machinima before acquiring the company, was named as the company's general manager. [Deadline]
Purple Squirrel relocates to Venice, launches job search engine
There's a new squirrel in town, and it's apparently open for business. Founded by ex-Googler Jon Silber, Purple Squirrel has developed a job search platform to connect job seekers with career mentors. To date, the company has raised $2.7 million from the likes of Greycroft, CrossCut VC and 500 Startups, among others. [Press Release]
The Black Tux introduces new tool to help users save on Tuxedos
Santa Monica-based The Black Tux has been fighting the ill-fitting, pricey tuxedo rental industry for a few years now, and just in time for prom/wedding season, the startup is offering a fun new tool to help college students and wayward millennials a way to save on their fancy duds. By texting your report card to the startup's bot via Facebook Messenger, users can save money thanks to the bot's use of artificial intelligence. Unfortunately, if your dog ate your report card, you're out of luck. [The Black Tux]
Report: tech companies still struggling to retain tech talent
According to a survey from corporate search firm Korn Ferry, 90 percent of executives are concerned with their company's ability to retain their new hires. What does that mean for employees in LA? More jobs, better perks and better options for career advancement. [Press Release]
Fundings of the Week
Beautycon, $9 million
Investors: A+E Networks, Live Nation and Main Street Advisors
West Hollywood-based Beautycon announced this week the company had raised $9 million to go toward scaling the startup's budding beauty-centric media empire. The funding comes from an assortment of investors, including A+E Networks and Live Nation, among others.[TechCrunch]
Pocketwatch, $6 million
Investors: Third Wave Digital, Les Moonves, Jon Landau, United Talent Agency, Robert Downey Jr. and Chris Jacquemin.
Backed by a star-studded cast of investors (including "Ironman's" Robert Downey Jr.), Pocketwatch announced its presence to both the LA tech community and the entertainment community this week. The media startup will focus on developing and acquiring content for children between the ages of 2-11. [Press Release]
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