Los Angeles Business Journal

LA BUSINESS JOURNAL DAILY NEWS

Silicon Beach Report Sept. 6: Snapchat Projected to Generate Nearly $1 Billion Next Year

Snapchat projected to generate nearly $1 billion next year, Fullscreen’s chief marketing officer exits, Snapchat hints at move into augmented reality, and more.

Tease photo

Snapchat Projected to Generate Nearly $1 Billion Next Year

Snapchat is projected to generate nearly $1 billion in advertising revenue next year, according to a report by eMarketer.

Movers for Week Ending Sept. 2, 2016

West L.A.-based Spark Networks Inc., which owns dating websites J Date and Christian Mingle, was this week’s biggest mover, gaining 26 percent to end at $1.97. Los Angeles-based Reed’s Inc. was also among the week’s movers. The craft soda company gained 13 percent to end at $3.53. Monrovia-based energy tech company AeroVironment, Inc. was the week’s biggest loser, dropping 16 percent to end at $24.83.

Silicon Beach Report Sept. 2: DropIn Inc. Launches Drone Video-Streaming for Insurance Industry

DropIn Inc. launches drone video-streaming for insurance industry, Best Fiends hires celebrities for promotion, and Atom Tickets expands to more theaters.

Wetzel’s Pretzels Acquired by Private Equity Firm CenterOak Partners

The smell of soft baked pretzels by Pasadena chain Wetzel’s Pretzels has made its way to Dallas-based private equity firm CenterOak Partners.

Tease photo

Banc of California Named Banking Sponsor of LA Rams Foundation

The Irvine-based Banc of California will be the official banking partner of the Los Angeles Rams Foundation, the football team’s charitable organization.

Tease photo

Retailers’ Concerns Mount as Hanjin Bankruptcy Delays Trade

The fallout from Hanjin Shipping filing for bankruptcy and ceasing operations this week was immediate, as cargo ships sat off the California coast unable to dock and freight companies scrambled to move their cargo.

Tease photo

Pet Feeder Maker Petnet Raises $10 Million

Pet-care technology is a booming business. Just ask Carlos Herrera, chief executive of automated pet feeder maker Petnet, whose downtown company just received a $10 million Series A round led by San Diego’s Petco Animal Supplies Inc. Online financial services firm Aspiration Growth and other undisclosed investors also participated.

Tease photo

Record Sale Could Cost House of Bijan Home

Last Rodeo?

House of Bijan could be left homeless on Rodeo Drive as the new owner may tear down its storefront.

Tease photo

Ports Awash in Bankrupt Shipping Line’s Cargo

TRADE: Hanjin’s collapse could prove big blow to Long Beach operations.

Bankruptcy of Hanjin Shipping leaves cargo shipments adrift at ports.

Tease photo

Augmented Reality Helmet Heads Into Industrial

TECHNOLOGY: Daqri sees product guiding workers through variety of jobs.

Daqri pitches its augmented reality Smart Helmet as a good fit for engineering and industrial jobs.

Silicon Beach Report Sept. 1: SpaceX Rocket Explodes, Destroying Facebook’s Satellite

SpaceX Rocket explodes and destroys Facebook’s satellite, Hyperloop One lawsuit accusations grow, Fandango expands service to Arclight Cinemas, and more.

Green Dot Bank Names Mary Dent as New CEO

Green Dot Bank in Pasadena announced yesterday that board member Mary J. Dent would become the bank’s chief executive. She succeeds Lewis Goodwin, who will remain as the bank’s president, according to a press release.

Tease photo

City Sued Over Use of LAPD at Rams Games

A lawsuit filed Wednesday by former City Councilman Dennis Zine accuses the City of Los Angeles and Los Angeles Police Department Chief Charlie Beck of illegally deploying police officers as security for pre-season L.A. Rams games, calling the action an “unlawful gift of public funds.”

Modest Salary Raises on Tap for Next Year

Looking for a big raise or to jump ship for a much higher-paying position next year? Not likely to happen, according to a survey released this week from Robert Half International.

Tease photo

Cargo in Limbo After Hanjin Stops Operations

Ships loaded with cargo were sitting directionless off the California coast Wednesday after Hanjin Shipping filed for bankruptcy and ceased operations.

Silicon Beach Report Aug. 31: Flipagram Is Shopping Itself Around to Potential Buyers

Flipagram Is Shopping Itself Around to Potential Buyers, Appetize signs deal to supply devices to Los Angeles Memorial Coliseum, CBS All Access Launches Ad-Free Option, and more.

Appetize Signs Deal to Supply Devices to Los Angeles Memorial Coliseum

Point-of-sale system manufacturer Appetize of Santa Monica has signed a deal with venue management firm Legends to outfit the Los Angeles Rams’ temporary home, the Los Angeles Memorial Coliseum, with its devices.

Tease photo

Hanjin Shipping Files for Bankruptcy

Hanjin Shipping Co. Ltd. filed for bankruptcy protection Wednesday after negotiations with creditors failed, sinking the seventh-largest cargo container carrier in the world and one of the largest shippers at the Port of Long Beach.

Silicon Beach Report Aug. 30: Washio Folds Operations Following Inability to Find Buyer

Washio folds operations following inability to find buyer, SpaceX to launch recycled rocket, Jessica Alba joins other celebrities on Apple’s new TV show, and more.