Los Angeles Business Journal

LA BUSINESS JOURNAL DAILY NEWS

Granite Properties Makes Rock-Solid Real Estate Deal in Glendale

Granite Properties has purchased a 21-story Glendale office tower at 550 North Brand Blvd. for just under $80 million, bulking up its Tri-Cities portfolio. Granite, based in Plano, Texas, now owns about 1 million square feet of offices in Glendale and Burbank, including the Brand Boulevard neighbor of its newest purchase.

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SpaceX Scheduled to Nearly Triple Launches This Year

Space Exploration Technologies Corp.has officially scheduled 17 launches for 2016, nearly tripling the company's six rocket launches last year, Spaceflight Now reports.

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Snapchat Raises $1.2B, Aims at Explosive Growth

Snapchat has raised a $1.2 billion round of capital, according to a filing with the Securities and Exchange Commission. The valuation of the Venice company was not disclosed.

Stocks Mixed

The Dow Jones industrial average fell 23 points on Thursday to close at 17,829. The S&P 500 fell one point to 2,090. The Nasdaq rose 7 points to 4,902. The LABJ stock index stayed flat at 230.

READER POLL: Do you collect art?

Do you collect art?

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Victorious Raises $25 Million to Develop Apps for Super Fans

Santa Monica-based app creating company Victorious has raised $25 million to expand its services internationally and improve its app development capabilities.

Edison CEO Craver to Retire; Pizarro to Take Reins

Edison International announced on Wednesday that Theodore F. Craver Jr., the Rosemead energy company’s chairman and chief executive will retire in September, keeping with the company’s practice of its chief executive retiring upon reaching age 65.

Mayor’s Cup Challenges Academic Entrepreneurs to Find Civic Solutions

Los Angeles Mayor Eric Garcetti’s office is giving entrepreneurs in the academic community the chance to win $25,000 if they can come up with a marketable idea to boost the city’s economic and civic growth.

Stocks Continue to Rise

The Dow Jones industrial average rose 145 points on Wednesday to close at 17,852. The S&P 500 rose 14 points to 2,091. The Nasdaq rose 34 points to 4,895. The LABJ stock index rose one point to 230.

March Capital Closes $240 Million Fund

Venture capital firm March Capital Partners of Santa Monica closed a $240 million fund on Tuesday to back dozens of technology start-ups worldwide.

Kelly Slater Wave Co. Sells Majority Stake to the World Surfing League

Santa Monica-based artificial wave-making company Kelly Slater Wave Co. has agreed to sell a majority stake to the World Surf League. Terms of the deal were not disclosed.

NFL Awards 2021 Super Bowl LV to Los Angeles

The biggest football game of the year will kick-off in Inglewood in 2021. Super Bowl 55 will take place at the 80,000-seat Los Angeles Rams stadium that’s set to open in 2019, the National Football League announced on Tuesday.

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Under Armour Pens $280M Deal With UCLA

UCLA teams will be soon getting a new look for its sports teams thanks to a 15-year record-breaking $280 million deal between performance footwear and apparel brand Under Armour and the university.

Stocks Continue to Rise

The Dow Jones industrial average rose 213 points on Tuesday to close at 17,705. The S&P 500 rose 28 points to 2,076. The Nasdaq rose 95 points to 4,861. The LABJ stock index rose three points to 228.

READER POLL: Does the idea of sharing living quarters, even for a brief time, appeal to you?

READER POLL: Does the idea of sharing living quarters, even for a brief time, appeal to you?

L.A. Tech Calendar: May 23 - June 5

Roundup of L.A. tech events in the next two weeks.

HelloTech Merges with Rival Geekatoo

In a move that greatly expands its service area, in-home tech-support company HelloTech has merged with rival Geekatoo of San Francisco. Terms of the deal were not disclosed.

Green Dot Corp. CEO Will Likely Keep Board Seat

Green Dot Corp. Chief Executive Steven Streit will likely be re-elected to his company’s board, according to a preliminary vote count from Monday’s annual stockholders meeting, the company announced this morning.

California State Chamber Opposes Ballot Measure to Extend Income Tax Hike

The California Chamber of Commerce announced Monday that it is opposing a likely November ballot measure to extend the income tax increase of Proposition 30 until 2031.

Stocks Fall

The Dow Jones industrial average fell 8 points on Monday to close at 17,493. The S&P 500 fell 4 points to 2,048. The Nasdaq fell 4 points to 4,766. The LABJ stock index fell one point to 225 points.