DogVacay merges with Rover
Another blockbuster M&A was reported this week, with Santa Monica's DogVacay announcing it had been acquired by Seattle-based dog walking service Rover. The deal combines two of the most robust pet sitting marketplaces around, making it easier for busy pet parents to keep their dogs happy. In a show of support, dogs all over LA sat like good boys and good girls and offered a paw to their owners. [DogVacay]
Report: LA startups become profitable sooner than other markets
Silicon Valley Bank published its annual US Startup Report this week, and LA-based companies had some very interesting things to say. Despite a tumultuous end to 2016 and beginning of 2017, 54 percent of Southern California startups are cautiously optimistic that 2017 will be a better year. Conversely, startups are still struggling to raise money, with 37 percent noting that raising capital was "extremely challenging." Finally, although Southern California-based startups reported less revenue on average than startups headquartered elsewhere, a higher percentage of LA startups reported turning a profit. [Silicon Valley Bank]
MasterClass raises $35 million, continues to grow LA presence
MasterClass, the online education platform that partners with celebrities to offer classes in things like acting and comedy, announced it raised $35 million this week. Last year, the San Francisco-based company announced it had opened a new office in LA. The startup plans to use the funding to accelerate class development and expand the list of instructors, many of whom are located in LA. [Press Release]
Jam City reveals Family Guy game
Mobile Game developer Jam City, which recorded $330 million in sales in 2016 after rebranding from SGN Games, announced this week its plans to launch another "Family Guy" game for mobile devices. For the upcoming game, titled "Family Guy: Another Freakin’ Mobile Game," Jam City worked with the writers of the hit Fox television program. Additionally, Jam City revealed plans to continue the partnership with 21st Century Fox by launching a "Futurama" game later this spring. [USA Today]
The Honest Company announces partnerships with MLB, Babies“R”Us
The Honest Company announced not one, but two strategic partnerships this week. Just in time for Opening Day, the company partnered with the MLB to create the "Born a Fan," line of, you guessed it, diapers. If you're interested in using a baby to show your support for a team, this is the perfect way to do it. Additionally, the company partnered with Babies“R”Us to offer its line of products in the chain of stores. [Press release; Press release]
EventForte launches ever virtual reality event planning and management application
Founded in San Jose but now located in LA, EventForte, a virtual reality event planning and management application, is fully operational. The app will allow users to immerse themselves in a virtual view of an event's diagram and layout. [EventForte]
Fundings of the Week
Cloudvirga, $15 million
Investors: Incenter
Cloudvirga, which develops a cloud-based platform designed to empower consumers to take a bigger role in the mortgage process, announced this week the company had raised a $15 million Series B. The company plans to use the funding to scale its platform, as well as continue to develop new products. [Built In LA]
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