Startups

Soylent, the Los Angeles-based meal replacement startup, has shaken up its top ranks with Chief Executive Bryan Crowley stepping down and replaced by Chief Financial Officer Demir Vangelov.

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Luxury electric carmaker Karma Automotive laid off 60 people mostly from its Irvine headquarters as its repositions itself from a retail auto seller to a designer for larger vehicle makers and technology companies. That's on top of another 200 workers cut three months ago, shrinking their workforce by about 25% since October.

Many of those pink slipped are engineers, according to filings with the California Employment Development Department earlier this month.

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Headspace raised $93 million in debt and equity as the Santa Monica-based mindfulness company aims to fend off competition from rivals like Calm by growing globally as it pursues ambitious plans to launch the first FDA-approved meditation app.

The company, which is riding the wave of wellness as everyone from Wall Street traders to school teachers embrace meditation for health, announced Wednesday that it will pump funds into their direct-to-consumer business, where revenue has doubled year-over-year from 2017 to 2019.

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