LA BUSINESS JOURNAL DAILY NEWS
Silicon Beach continues to wind its tentacles through Santa Monica. An office on Ocean Park Blvd. has just sold for more than double the amount it claimed in its last sale a decade ago.
It’s no Playa Vista, but El Segundo is still commanding solid office sales. An office on Continental Blvd. has sold for $30.5 million, or just over $300 a square foot. The buyer, Brightforward LLC, a private family from West L.A., bought the 96,210-square-foot building at 550 Continental from Colony Capital Inc., based in downtown.
Spotify hires Troy Carter, Chernin Group to launch a video-subscription service, Midroll buys Sticher, and more.
Colony Capital Inc. has agreed to merge with NorthStar Asset Management Group Inc. and NorthStar Realty Finance Corp., both of New York. The new company will be called Colony NorthStar Inc. and hold $58 billion in assets.
Jacobs Engineering Group Inc. is preparing to move its headquarters from Pasadena to Dallas, according to an agenda posted online by the Texas city’s economic development committee.
The Dow Jones industrial average rose 113 points on Monday to close at 17,920. The S&P 500 rose 10 points to 2,109. The Nasdaq rose 26 points to 4,969 The LABJ stock index rose one point to 232.
The U.S. Attorney’s office in Los Angeles announced Friday that three more conspirators pleaded guilty in the insurance fraud case tied to Pacific Hospital of Long Beach – now College Medical Center.
A weekly roundup of must-read L.A. tech investments and acquisitions.
Snapchat is reportedly set to roll out a redesign of its app in mid-June by merging its Discover and Live Story features.
A weekly roundup of L.A. tech company and product launches.
A business take on the weekend’s movie releases
Hermosa Beach-based virtual payment company Virtual Piggy, Inc. was this week’s biggest mover, gaining 79 percent to close at 11 cents. Lion Biotechnologies Inc. was also among the week’s big movers. Stocks for the clinical stage biotech company focused on cancer immunotherapy rose 49 percent to close at $8.65. Chatsworth-based Capstone Turbine Corporation was the week’s biggest loser, dropping 7 percent to $1.44.
The Dow Jones industrial average fell 31 points on Friday to close at 17,807. The S&P 500 fell 6 points to 2,099. The Nasdaq fell 29 points to 4,943 The LABJ stock index fell one point to 231.
Gannett Co.’s quest to purchase beleaguered Los Angeles Times owner Tribune Publishing has now reached the courts.
Subscription box startup Loot Crate, which sends toys and fan gear to subscribers in monthly mystery boxes, said it surpassed $100 million in sales last year and raised an $18.5 million Series A funding round.
The Dow Jones industrial average rose 49 points on Thursday to close at 17,839. The S&P 500 rose 6 points to 2,105. The Nasdaq rose 19 points to 4,971 The LABJ stock index rose one point to 232.
Docupace Technologies, which develops financial document management software, has raised a $16.5 million round of capital from Palisades Growth Capital and TVC Capital.
Rapper Wiz Khalifa sued his record label, Rostrum Records, and founder Benjy Grinberg Tuesday, alleging the deal the Pittsburgh native signed in 2005 is exploitative.
The Dow Jones industrial average rose 2 points on Wednesday to close at 17,790. The S&P 500 rose 2 points to 2,099. The Nasdaq rose 4 points to 4,952 The LABJ stock index stayed flat at 230.
Roundup of L.A. tech events in the next two weeks.