Here are the latest updates on news affecting Los Angeles' startup and tech communities. Sign up for our newsletter and follow dot.LA on Twitter for more.
Today:
- Fidelity Seeking to Unload Bird Shares at a Loss
- Warner Bros.' 2021 Films Will Be Released in Theaters, HBO Max Simultaneously
- Plug-In South LA Opens New Accelerator Cohort for 2021
Fidelity Reportedly Seeks To Unload Bird Shares at a Loss
Escooter Unicorn Bird Seeks to Unload Santa Monica HQupload.wikimedia.orgFidelity Investments is attempting to unload some of its shares in Bird Rides Inc. at a loss, according to a report published Wednesday night by Business Insider.
The move comes after dot.LA reported in October that the mutual fund giant has marked down the value of its Bird investment by 17% since the beginning of the year.
Plug-In South LA Opens New Accelerator Cohort for 2021
Plug In South LA's Accelerator Program is returning in 2021. The outfit is looking for 10 Black and Latinx founders who have proof of product-market fit and traction. The organization, founded in 2015 by Derek Smith, aims to build a network for Black and Latinx founders in South Los Angeles.
Last year was the inaugural accelerator program funded by Verizon, Silicon Valley Bank and Nike. The 2019 cohort hosted five startups including Spooler, a tech-based clothing design startup that credits the program with helping to increase revenue two fold since March. During the program, the company received a contract to launch a Sesame Street active wear product line.
The last day to apply for the program is Dec. 9
Warner Bros.’ 2021 Films Will Be Released in Theaters, HBO Max Simultaneously
Warner Bros. will be streaming all its 2021 theatrical releases on HBO Max in a blow to already struggling theater chains as the pandemic continues to reshape Hollywood.
The AT&T-owned studio's 17-film slate, including "Godzilla vs. Kong," "Mortal Kombat," "The Suicide Squad" and "Matrix 4," will be available on the streaming platform exclusively for one month, starting when they are released in theaters and then will disappear from the platform.The move comes shortly after the company announced it would bring its expected blockbuster "Wonder Woman 1984" directly to HBO Max.