Activision Blizzard, the maker of "World of Warcraft" and "Diablo," is facing accusations of fostering a pervasive "frat boy" culture where women employees were subjected to constant sexual harassment, lower pay and retaliation.
Here's the gist:
- The California Department of Fair Employment Housing filed a lawsuit against Activision Blizzard on Tuesday.
- The lawsuit comes after a two-year investigation into the Santa Monica-based company's workplace culture.
- The lawsuit cites one example where a woman employee, who was subjected to harassment, took her own life during a business trip with a male supervisor.
In response to the lawsuit, an Activision Blizzard spokesperson said, "We value diversity and strive to foster a workplace that offers inclusivity for everyone. There is no place in our company or industry, or any industry, for sexual misconduct or harassment of any kind."
LA Startups To Watch 👀
ImmixBio, a West L.A.-based startup developing cancer therapies, announced on Friday it submitted a confidential filing to go public.
Twelve companies have been chosen for TechStars LA's 2021 Accelerator cohort. Among them are a social network platform for traders, a startup making a wristband that detects strokes and an app to handle small claims court cases.
Are single people ready to move past Tinder, Bumble or even Hinge? Katherine Abando previews four dating apps from L.A. startups that have emerged from the pandemic, and some of the dating trends they've sparked.
Sherman Oaks-based SaaS company FloQast has closed a Series D round of $110 million, bringing the company's valuation to $1.2 billion and officially marking it a unicorn.
As carmakers from Volvo to Tesla race to make charges speedier and more powerful, there is pressure for charging stations to keep up. EVgo is putting its El Segundo-based Innovation Lab to work on faster and better electric vehicle chargers.
#TechLA's Movers & Shakers This Week 📢
Snap Inc. had a better-than-expected second quarter this year with an increase in its daily user base and revenue growth. Snap shares soared as high as nearly 17% in after-hours trading Thursday after reporting its highest rates of revenue and user growth in four years.
Not only that, Snap also made a splash this week with the rollout of new Bitmoji avatars on its platform. The move is seen as the company's efforts to dig its heels into virtual fashion. The new Bitmoji avatars come with more than 1,200 combinations of poses, gestures and backgrounds like cow prints to beach locations.
Moonshots Capital just closed its second fund; totaling $36 million, the seed-stage firm is aimed at early-stage tech companies and cutting larger checks. Investments average from $1.5 million to $2 million, 50% larger than Fund I.
Boingo is partnering with AT&T to bring 5G+ wireless technology across 12 airports, including John F. Kennedy International, LaGuardia and Chicago O'Hare International.
Capsida is building a new 15,000-square-foot manufacturing site in Thousand Oaks that will be used to engineer small viral particles to treat rare diseases like ALS and Friedreich's Ataxia, both of which severely impact mobility.
Take a deep dive into our story on Anduril Industries, the Irvine-based maker of autonomous drones, towers and small ground sensors, that is building a "smart wall" along the U.S.-Mexico border. Last month, the company raised $450 million for acquisitions and build out its AI-powered tech designed for military and border enforcement agencies.
LA Startup Bets 💎
Los Angeles-based Numerade announced a $26 million round of Series A funding this week. The company uses AI to let users search its 1.2 million video database to generate a customized lesson and quizzes for students.
Listen Up 🎙
Need a podcast recommendation this weekend? Here are some new pods we have for you:
On this episode of the Behind Her Empire podcast, Marcus Lemonis shares how he got started with entrepreneurship, how he avoids imposter syndrome and how he dresses to feel free. Lemonis is the first male guest on Behind Her Empire and is the CEO and chairman of the multi-billion dollar business Camping World and host of CNBC's "The Profit." Listen on Stitcher | Apple Podcasts | Spotify | iHeart Radio
On this week's episode of the L.A. Venture podcast, The Fund L.A.'s new partner Raina Kumra shares some projects she's currently working on, thoughts on the future of ethical tech and some questions she likes to ask entrepreneurs. Listen on Apple Podcasts | Stitcher | Spotify
🚨 EXTRA EXTRA 🚨
Netflix lost 430,000 subscribers in the U.S. and Canada last quarter, adding to an already notable decline since January, as competitors Disney Plus and HBO Max rise in the streaming wars.
Primarily financed by ads on its site, Famous Birthdays is now turning its data into dollars by opening up its beta subscription service for a wider launch this week.
Hedge-fund billionaire investor Bill Ackman on Monday withdrew from his plan to acquire a stake in Universal Music Group via his SPAC, telling shareholders that he did not think the SPAC "would be able to consummate the transaction" after the SEC had questioned the legality of the arrangement.
Amazon founder Jeff Bezos and three crewmates — including the world's oldest space traveler and the youngest — went on an 11-minute suborbital spaceflight on a reusable New Shepard rocket ship built by Bezos' Blue Origin.
Am I doing this right? 🤔
Throw me feedback, compliments or questions on this newsletter at luis@dot.la or on Twitter at @rungomez.