Snap Inc. unveiled its third class of its "Yellow" accelerator program on Wednesday, which includes companies based in Lithuania, South Korea, London, Mexico, as well as Los Angeles.
The ten selected companies include a digital community for blue-collar workers, a media platform for Black millennial entrepreneurs, an AI-based mobile app to teach drawing using augmented reality, and a one-tap short-form film-making app.
'I Just Really Liked Their Vibe:' Serial Entrepreneur Brian Lee on How He Landed L.A.'s Biggest Exit and What Drives Him Crazy About Other VC's
As one of the founding fathers of the L.A. tech scene, Brian Lee is used to having entrepreneurs pitch him on ideas. What does he look for? It's not so much a business plan or even an idea. He says he goes off a vibe.
That's how he ended up being the first investor in the deal-finding browser add-on Honey, which was bought late last year by PayPal for $4 billion in what ranks as the biggest acquisition L.A. has seen to date.
Los Angeles is in the midst of a once-in-a-generation moment.
Last year, Schroders Global Cities Index ranked Los Angeles as the most economically vibrant city in the world and the best city for investment. Our metropolitan economy is the world's third largest in economic performance. And in six years we have cut the unemployment rate by more than half.