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Weekly Tech Recap: Bird Goes Public
Weekly Tech Recap: Bird Goes Public
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Santa Monica-based Bird landed on the NYSE on Friday. The company skipped the traditional IPO process, instead merging with a Dallas-based SPAC. The deal put a combined $414 million in cash and credit at the scooter company's disposal, which its CEO said will be used to fuel the startup's growth and further its mission of providing "environmentally friendly transportation for everyone."
👉 Huckleberry. The pediatric app allows parents to track everything from feeding to pumping sessions, sleep, even how often a diaper needs to be changed.
👉 Wave. The digital music platform has provided artists the ability to perform as virtual avatars in 3D spaces and allow fans at home to strap on their headsets and be immersed in a concert.
👉 Mythical Games. The Sherman Oaks-based gaming startup raised $150 million bringing the company's valuation to $1.25 billion.
👉Closegap. This nonprofit edtech resource is being used in schools to help educators identify students' emotional states and keep them supported and on track with their studies.
➡️ Irvine-based EV truck and SUV maker Rivian is expected to raise around $8 billion in the IPO next week, offering 135 million shares that have been priced between $57 and $62.
➡️ Santa Monica-based micro-mobility app Bird made its NYSE debut on Friday. Its stock price rose by just a fraction of a percent to close at $8.40 per share.
➡️ In 2019, Caltech announced a partnership with Amazon Web Services to resurrect a 21,000-square-foot building as a shrine to quantum computing. This week, the site finally opened.
🗞Fisker reported third quarter 2021 losses of $109.6 million, roughly double the $53.1 million it lost in the second quarter of the year.
🗞Activision Blizzard stock tumbled following two major game franchise delays and discrimination lawsuits.
🗞 Like many tech companies, Snap Inc. has been grappling with its lack of diversity in its workforce. This week, it brought some tech luminaries to talk fixes, run down its initiatives and progress since its diversity report released in April.
🗞 This year's Los Angeles Kornit Fashion Week was a little different. Every article of clothing on the catwalk was created using digital printing technology, as the fashion tech event placed a heavy emphasis on creating a more sustainable way to be chic.
🗞 A Pacific Palisades-based nonprofit has created an app for homeless users – 95% of who have mobile phones – that is quietly growing in popularity.
🗞 With 45% of the state still in exceptional drought, the solution to California's water crisis may lie in emerging technology that could help to better reuse and conserve water.
Need a podcast recommendation this weekend? Here are some new pods we have for you:
🎙 Dr. Sara Gottfried is a board-certified physician who has spent her career demystifying hormones. She comes on to this week's Behind Her Empire to talk about helping patients improve their health more broadly with personalized medicine. Listen on Stitcher, Apple Podcasts, Spotify, iHeart Radio or wherever you get your podcasts.
🎙 Gary Benitt spent 18 years building companies in the customer service and support software space. On this episode of LA Venture, he discusses his role at Social Leverage, the fund's investments in Robinhood and Rally Road, and his style of investing early and leaning in. Listen to LA Venture on Apple Podcasts, Stitcher, Spotify.
🗞 In time for the holidays, Los Angeles County is receiving a shipment of roughly 150,000 child-size coronavirus vaccines to inoculate 5 to 11 year olds as soon as next week.
Check out these upcoming Southern California tech and startup events in November:
Is your organization having an event? Let us feature it in our newsletter! Email [email protected].
Throw me feedback, compliments or questions on this newsletter at [email protected] or on Twitter at @rungomez.
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