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Sam primarily covers entertainment and media for dot.LA. Previously he was Marjorie Deane Fellow at The Economist, where he wrote for the business and finance sections of the print edition. He has also worked at the XPRIZE Foundation, U.S. Government Accountability Office, KCRW, and MLB Advanced Media (now Disney Streaming Services). He holds an MBA from UCLA Anderson, an MPP from UCLA Luskin and a BA in History from University of Michigan. Email him at samblake@dot.LA and find him on Twitter @hisamblake
Normally, pre-IPO investments are reserved for wealthy angel and institutional investors who stand to cash out once a company goes public.
But Todd Goldberg and Darren Marble, the team behind the forthcoming Shark Tank-like series "Going Public," have a plan to level the playing field.
Just as Robinhood increased retail investors' access to Wall Street, Marble and Goldberg are calling Going Public the "Robinhood for angel investing."
The series will give viewers the chance to invest in one of five startups it follows as the founders strive toward a potential IPO on the NASDAQ stock exchange.
Goldberg and Marble are the co-CEOs of Crush Capital, the Beverly Hills-based investment company behind the show that's set to stream this fall on Entrepreneur.com.
Their pitch to investors is that Crush democratizes access to IPOs. Investors seem to be buying it: Crush Capital has raised $2.75 million in its second round of funding, led by AYA Capital Holdings with participation from Zilliqa Capital. The latest raise brings its total to $6 million.
"One thing that tied the folks who decided to invest, whether in the seed round or in this round, was that they got it right away," Goldberg said.
Among the five startups to appear on the show will be music streaming company Trebel, which Marble said has four million monthly unique users and a valuation of $150 million; Proven Skincare, which uses AI to create personalized skin care blends and which Goldberg said is on track to make up to $40 million in revenue this year and NexGenT, an edtech company formed by Air Force veterans who formerly taught teenagers how to build network infrastructure in the middle of war zones, and which Goldberg said earned $17 million in revenue last year.
More participants will be announced in the coming weeks. All will have valuations between $100 million and $500 million and be authorized by the SEC to receive funding from non-accredited investors in accordance with crowdfunding legislation passed in 2015 known as Regulation A.
"Whereas American Idol pioneered text-to-vote, we're pioneering click-to-invest for a series that allows viewers to follow founders on their capital-raising journey and invest into their deals or IPOs while they watch," Marble said.
Viewers will be able to buy equity via Crush Capital's investment platform and will be charged a $15 transaction fee, Marble said.
That's a departure from the no-fee services that have become standard among retail-investment platforms like Robinhood. But Goldberg sees the fees as an opportunity to further differentiate "Going Public" from what he considers a shady business practices.
"If you're not paying for the product, you are the product," he said, referring to the selling of user data that numerous no-fee brokerages practice. "We think the small transaction fee is worth paying to know that you are not the product."
Correction: An earlier version of this story said users of the Going Public investment platform could purchase stock warrants for competing companies. Users can only purchase stock shares in those companies. It also incorrectly stated Trebel's valuation.
Sam primarily covers entertainment and media for dot.LA. Previously he was Marjorie Deane Fellow at The Economist, where he wrote for the business and finance sections of the print edition. He has also worked at the XPRIZE Foundation, U.S. Government Accountability Office, KCRW, and MLB Advanced Media (now Disney Streaming Services). He holds an MBA from UCLA Anderson, an MPP from UCLA Luskin and a BA in History from University of Michigan. Email him at samblake@dot.LA and find him on Twitter @hisamblake
Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.
According to a Forbes report last April, both the viewership and dollars behind women’s sports at a collegiate and professional level are growing.
In 2022, the first 32 games of the NCAA tournament had record attendance levels, breaking records set back in 2004, and largely driven by the new and rapidly growing women’s NCAA tournament. WNBA openers this year saw a 21% spike in attendance, with some teams including the LA Sparks reporting triple-digit ticket sales growth, about 121% over 2022’s total. In 2023, the average size of an LA Sparks crowd swelled to 10,396 people, up from 4,701 people.
Women make up half the population, but “also 50% of the folks that are walking into the stadium at Dodger Stadium, or your NFL fans are just about 50% women,” noted Erin Storck, a panelist and senior analyst at Los Angeles-based Elysian Park Ventures.
Storck added that in heterosexual households, women generally manage most of the family’s money, giving them huge purchasing power, a potential advantage for female-run leagues. “There's an untapped revenue opportunity,” she noted.
In the soccer world, Los Angeles-based women’s soccer team Angel City FC has put in the work to become a household name, not just in LA County but across the nation. At an LA Tech Week panel hosted by Athlete Strategies about investing in sports, Angel City head of strategy and chief of staff Kari Fleischauer said that years before launching the women’s National Women’s Soccer League team, Angel City FC was pounding the pavement letting people know about the excitement ladies soccer can bring. She noted community is key, and that fostering a sense of engagement and safety at the team’s home venue, BMO stadium (formerly Banc of California Stadium), is one reason fans keep coming back.
Adding free metro rides to BMO stadium and private rooms for nursing fans to breastfeed or fans on the spectrum to avoid sensory overload, were just some of the ways ACFC tried to include its community in the concept of its stadium, Fleischauer said. She noted, though, that roughly 46% of Angel City fans are “straight white dudes hanging out with their bros.”
“Particularly [on] the woman's side, I'd like to think we do a better job of making sure that there's spaces for everyone,” Fleischauer told the audience. “One thing we realize is accessibility is a huge thing.”
Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.
L.A. Tech Week has brought venture capitalists, founders and entrepreneurs from around the world to the California coast. With so many tech nerds in one place, it's easy to laugh, joke and reminisce about the future of tech in SoCal.
Here's what people are saying about the fifth day of L.A. Tech Week on social:
#LATechWeek has been on 🔥🔥🔥. Yes the events are super cool at amazing venues. But, I’m blown away by the people. I’ve met so many founders building generative AI companies from the ground up. I’m so bullish on LA right now🥳. LA is for builders #longLA
Thanks @rpnickson 📸 pic.twitter.com/B6rT2jJYIs
— Dr. Kelly O'Brien (@Kvo2013) June 8, 2023
Successful LatinxVC Avanza Summit 2023 in LA! It’s been an amazing few days near the beach w great company. Thank you to our panelists & participants.
Huge thanks to our incredible sponsors SVB, Chavez Family Foundation, Annenberg Foundation, PledgeLA, Fenwick & West, Countsy! pic.twitter.com/oVuGIgFurk
— LatinxVC (@LatinxVCs) June 9, 2023
30+ gaming startups presented at the A16z Speedrun Demo Day in LA yesterday. Great thanks to the @a16zGames team for an awesome day of events! #LATechWeek pic.twitter.com/DKq8IFo5QZ
— Grace Zhou (@graceminzhou) June 9, 2023
📣🤩 What’s the buzz? It’s #LATechWeek from @TechstarsLA & @TechstarsHealth joint demo day with the #Techstar HC team where our @fyelabs founder/CEO Suvojit Ghosh mentored both cohorts! #TechStars demo day highlighted 12 amazing emerging #startups in #healthtech #innovation. 🩺 pic.twitter.com/0RXClCtfDQ
— FYELABS (@fyelabs) June 9, 2023
Another successful Coffee On Slauson in the books for #LATechWeek.
Special thanks to the good people at Pledge LA, SVB and @GundersonLaw for the ongoing support and the @findyourhilltop staff for providing the space, eats & vibes. ♻️ pic.twitter.com/51cMDoEn30
— Slauson & Co. (@SlausonAndCo) June 9, 2023
The perfect combo to start #LATechWeek Day 5: pastries, coffee, and great convos with industry founders ✨
Fireside chats with @enriquealle, @wp, and @robynpark pic.twitter.com/booYPdekVV
— Tech Week (@Techweek_) June 9, 2023
Of course @designerfund has the most amazing pastries at their event. #LATechWeek pic.twitter.com/PjyWlGTQI4
— Jesse Pickard (@jessepickard) June 9, 2023
My favorite event from @Techweek_ has to be "Modern Storytelling & Business Building." Hosted by @STHoward #LATechWeek pic.twitter.com/SV1eexMJ4k
— JonnyZeller (@JonnyZeller) June 9, 2023
And the finale of the night was courtesy of the one and only @zedd for an unforgettable end to the "City of Games" party! Hosted by @a16zGames and @100Thieves #LATechWeek pic.twitter.com/hliI9yLKse
— Tech Week (@Techweek_) June 9, 2023
Excited to be at the @a16zGames Speedrun Demo Day! Loved the energy and excitement from the companies that pitched there. It was also great to see @Tocelot and @ndrewlee at this amazing #LATechWeek event pic.twitter.com/NfLQO5lR27
— Andy Lee | andypwlee.bit (@andypwlee) June 9, 2023
Thank you to everyone who joined the Sony Venture Fund US team at #LATechWeek for our screening of Spider-Man: Across the Spider-Verse. Last summer, we started building a presence in LA. Today, it's exciting to host such an event with the @Sony family and the LA VC community. pic.twitter.com/wdDm6qtHdL
— Sony Innovation Fund (@Sony_Innov_Fund) June 9, 2023
Time to eat, connect and build while @remi_rodney provided the vibes. 🙏🏽#LATechWeek @BuildOnBase @developer_dao @WeAreRazorfish pic.twitter.com/QIPh1gjvoA
— Hola Metaverso-Blockchain & New Web Tech Events 🎪 (@holametaverso) June 9, 2023
@Lux_Capital at #LATechWeek advancing the impossible to inevitable, from..
..defense primes partnering with cutting edge defense tech startups, to..
..hardware x LLMs improving mental health.
From the rich and diverse LA ecosystem stems generational companies: pic.twitter.com/v5S5r8JtbU
— Shahin Farshchi (@Farshchi) June 9, 2023
LA Tech Week has been a blast! Met some amazing creators, founders and investors from all over the world! #LATechWeek pic.twitter.com/AAh9JFELhe
— Chris Germano (@netslayer) June 9, 2023
Had such a blast at LA Tech Week and hosting events for @brexHQ
Top highlights were collabing with @pulley on an Emerging Managers / Founder mixer at the @poplco House, rooftop event in Venice, creator panel with @thechangj & proper Korean food with in KTown.
Exhausted is an… pic.twitter.com/mGQnSYGPdg
— Τyler Robinson (@TyyRob3) June 9, 2023
Did you have fun at @sophiaamoruso’s launch party for @trustfundvc? #LATechWeek pic.twitter.com/gbrbXRQ9Xx
— Kay (@KaySnels) June 9, 2023
y00tilty in every city with @KaylaLor3n & @cryptochrisg813.
Welcome to the LA @y00tsNFT fam! #LATechWeek #3XP week. pic.twitter.com/6wWKlsTacx
— VanG0xH (@CryptoVanGoghs) June 9, 2023
Really enjoyed #LATechWeek. Here are some observations I made 👇
— s.personal.ai (Suman Kanuganti) (@SumanPersonalAI) June 9, 2023
Thank you @TheKofiAmpadu for including me in #demoday with the latest @a16ztxo cohort! It was a real full circle moment to witness the brilliance of both @ChrisLyons & @ZMuse_ & #PledgeLA very own. She’s why we’re #LongLA 🚀💕 #LAtechweek pic.twitter.com/itkKXMxQRb
— Qiana Qiana! (@Q_i_a_n_a) June 9, 2023
@upfrontvc Gaming Founders Podcast #iLOVELA #LATechWeek @Techweek_ @KatiaAmeri @mucker @fikavc @bonfire_vc @TenOne10 @WatertowerGroup @ganasvc @IAmRobRyan @john_at_stonks @eva_ho @dereknorton pic.twitter.com/LCbaGXCoW7
— Sean Goldfaden (@seangoldfaden) June 9, 2023
Hosts Kevin Zhang, Partner at @upfrontvc, and Eden Chen, CEO of @pragmaplatform, interviewed two special guests from @raidbaseinc Stephen Lim, Co-Founder & Product Director, and Trevor Romleski, Co-Founder & Game Director. 🎙 #LATechWeek pic.twitter.com/hxHEAoELZ6
— Tech Week (@Techweek_) June 9, 2023
Kicking off @a16zGames @100Thieves City of Games party at #LATechWeek 🔥🔥🔥 pic.twitter.com/zQcZedG15f
— Jon Lai (@Tocelot) June 9, 2023
Yesterday at @socinnovation I got to have this AWESOME conversation with @iamwill — musician, producer, technology entrepreneur, and Founder & CEO of https://t.co/D60y1e2JOu #LATechWeek pic.twitter.com/KBxK6rXyTG
— Anna Barber (@annawbarber) June 9, 2023
I absolutely love this game. Proud moment for the team @investwithatlas. #LATechWeek pic.twitter.com/fPZvKXU7TC
— Tobias Francis (@TobiasFrancis) June 9, 2023
Had a blast at LA Tech Week this year with @brexHQ
From hosting & moderating my first creator panel featuring @BlakeMichael14, to a fun rooftop night in Venice, and to attending some amazing events such as Watertower’s emerging manager panel and a VC/founder tennis tournament pic.twitter.com/udjfmLHE0L
— Jonathan Chang (@thechangj) June 8, 2023
Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.
At Lowercarbon Capital’s LA Tech Week event Thursday, the synergy between the region’s aerospace industry and greentech startups was clear.
The event sponsored by Lowercarbon, Climate Draft (and the defunct Silicon Valley Bank’s Climate Technology & Sustainability team) brought together a handful of local startups in Hawthorne not far from LAX, and many of the companies shared DNA with arguably the region’s most famous tech resident: SpaceX.
Here’s a look at the greentech startups that pitched during the Tech Week event, and how they think what they’re building could help solve the climate crisis.
Arbor: Based in El Segundo, this year-old startup is working to convert organic waste into energy and fresh water. At the same time, it also uses biomass carbon removal and storage to remove carbon from the atmosphere and sequester it in an attempt to avoid further damaging the earth’s ozone layer. At the Tech Week event Thursday, Arbor CEO Brad Hartwig told a stunned crowd that Arbor aims to remove about five billion tons of organic waste from landfills and turn that into about 6 PWh, or a quarter of the global electricity need, each year. Hartwig is an alumni of SpaceX; he was a manufacturing engineer on the Crew Dragon engines from 2016-2018 and later a flight test engineer at Kitty Hawk.
Antora: Sunnyvale-based Antora Energy was founded in 2017, making it one of the oldest companies on the pitching block during the event. Backed by investors including the National Science Foundation and Los Angeles-based Overture VC, Antora has raised roughly $57 million to date, most recently a $50 million round last February. Chief operating officer Justin Briggs said Antora’s goal is to modernize and popularize thermal energy storage using ultra-hot carbon. Massive heated carbon blocks can give off thermal energy, which Antora’s proprietary batteries then absorb and store as energy. It’s an ambitious goal, but one the world needs at scale to green its energy footprint. According to Briggs, “the biggest challenge is how can we turn back variable intermittent renewable electricity into something that's reliable and on demand, so we can use it to provide energy to everything we need.”
Arc: Hosting the panel was Arc, an electric boating company that’s gained surprising momentum, moving from design to delivering its first e-boats in just two years of existence. Founded in 2021, the company’s already 70 employees strong and has already sold some of its first e-boats to customers willing to pay the luxury price tag, CTO Ryan Cook said Thursday. Cook said that to meet the power needs of a battery-powered speedboat, the Arc team designed the vehicle around the battery pack with the goal of it being competitive with gas boats when compared to range and cost of gas. But on the pricing side, it’s not cheap. Arc’s flagship vessel, the Arc One is expected to cost roughly $300,000. During the panel, Cook compared the boat to being “like an early Tesla Roadster.” To date Arc Boats has raised just over $35 million, according to PitchBook, from investors including Kevin Durant, Will Smith and Sean “Diddy” Combs.
Clarity Technology: Carbon removal startup Clarity is based in LA and was founded by Yale graduate and CEO Glen Meyerowitz last year. Clarity is working to make “gigaton solutions for gigaton problems.” Their aim? To remove up to 2,000 billion pounds of carbon from the atmosphere through direct air capture, a process which uses massive fans to move chemicals that capture CO2. But the challenge, Meyerowitz noted in his speech, is doing this at scale in a way that makes an actual dent in the planet’s emissions while also efficiently using the electricity needed to do so. Meyerowitz spent nearly five years working as an engineer for SpaceX in Texas, and added he’s looking to transfer those learnings into Clarity.
Parallel Systems: Based in Downtown LA’s Arts District, this startup is building zero-emission rail vehicles that are capable of long-haul journeys otherwise done by a trucking company. The estimated $700 billion trucking industry, Parallel Systems CEO Matt Soule said, is ripe for an overhaul and could benefit from moving some of its goods off-road to electric railcars. According to Soule, Parallel’s electric battery-powered rail vehicles use 25% of the energy a semi truck uses, and at a competitive cost. Funded in part by a February 2022 grant from the U.S. Department of Energy, Parallel Systems has raised about $57 million to date. Its most recent venture funding round was a $49 million Series A led by Santa Monica-based VC Anthos Capital. Local VCs including Riot Ventures and Santa Monica-based Embark Ventures are also backers of Parallel.
Terra Talent: Unlike the rest of the startups pitching at the Tech Week event, Terra Talent was focused on building teams rather than technology. Founder Dolly Singh worked at SpaceX, Oculus and Citadel as a headhunter, and now runs Terra, a talent and advisory firm that helps companies recruit top talent in the greentech space. But, she said, she’s concerned that all the work these startups are doing won’t matter unless we very quickly turn around the current trendlines. “Earth will shake us off like and she will do just fine in 10,000 years,” she said. “It’s our way of living, everything we love is actually here on earth… there’s nothing I love on Mars,” adding that she’s hopeful the startups that pitched during the event will be instrumental in making sure the planet stays habitable for a little while longer.
Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.