LA Tech Updates: Triller Threatens Legal Action; XSET Gaming Partners with GHOST

Sam Blake

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

LA Tech Updates: Triller Threatens Legal Action; XSET Gaming Partners with GHOST
Photo by Solen Feyissa on Unsplash

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:

  • Triller Threatens Legal Action Over Metrics Estimates
  • XSET Gaming Crew Gets Its First Partnership Deal

    Triller Threatens Legal Action Over Metrics Estimates

    The Case for Triller: The TikTok Competitor Approaching Unicorn Status, And Getting Big Breaks

    TikTok competitor Triller has threatened to sue an analytics firm over its report that suggests Triller inflated its app-download figures.

    As the Chinese-owned TikTok faces a ban, Triller has positioned itself as the company's successor. Earlier this month the company issued a statement boasting it had been downloaded 250 million times and seen a 20x increase in the last week of July. But Apptopia pegged the number of downloads to 52 million. Sensor Tower, another third-party analytics firm, estimated 45.6 million.

    "We would have welcomed Apptopia with open arms had they just reached out to us, and helped them understand our numbers, and now they have just made themselves part of our TikTok litigation," Triller chief executive Mike Lu wrote to TechCrunch. "We will be pursuing a claim against them for spreading harmful, false and knowingly damaging information."

    Lu is referring to Triller's recently filed lawsuit against TikTok parent company ByteDance, claiming that the Chinese firm infringed on Triller's patent for syncing music and video.

    He went on to say that Apptopia, "clearly have allowed themselves to become a pawn of these giant conglomerates, especially those like TikTok."

    Triller executive chairman Bobby Sarnevesht told dot.LA late last month that tailwinds have inspired the company to pursue a $250 million fundraising round that would value Triller at $1.25 billion. India's ban on TikTok has helped boost Triller's performance in that country, Sarnevesht said.

    Influencers have reportedly been increasingly migrating from TikTok in the wake of President Trump's executive order that would effectively ban the app in the U.S. The president has created a Triller account of his own.

    XSET Gaming Crew Gets Its First Partnership Deal

    A month after FaZe Clan executives left to launch their own esports company, Boston-based XSET, they sealed their first large partnership with lifestyle nutrition brand GHOST.

    The two-year deal gives XSET's roster of streamers, gamers and celebrities access to beverages, supplements and protein. GHOST will also provide sponsorship of XSET's jerseys and esports events, and will develop branded products ranging from limited-edition beverage flavors to original content.

    XSET's CEO Greg Selkoe is trying to build a brand more inclusive and diverse than FaZe and its Southern California peers just as the nation is grappling with racial inequities. The company purposely went to the East Coast and its partnership with Chicago-based GHOST is reminiscent of FaZe Clan's business blueprint of building on top esports with merchandise, brand sponsorships and content development. That strategy has helped FaZe garner a $250 million valuation and 215 million social media followers.

    The deal comes after an earlier score for XSET, when the company signed 14-year-old female professional skateboarder Minna Stess. At the time, XSET co-founder and chief operating officer Marco Mereu described the move as "the embodiment of the kind of talent we want."

    Mereu's three other co-founders are chief executive Greg Selkoe, chief of merchandising and licensing Wil Eddins, and chief business development officer Clinton Sparks. Those three all previously worked at FaZe Clan, where they respectively served as President, VP of Apparel and VP of Business Development.

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    Office Hours: Apex Founder Ian Cinnamon on Why LA Is the Aerospace Capital of the World

    Spencer Rascoff

    Spencer Rascoff serves as executive chairman of dot.LA. He is an entrepreneur and company leader who co-founded Zillow, Hotwire, dot.LA, Pacaso and Supernova, and who served as Zillow's CEO for a decade. During Spencer's time as CEO, Zillow won dozens of "best places to work" awards as it grew to over 4,500 employees, $3 billion in revenue, and $10 billion in market capitalization. Prior to Zillow, Spencer co-founded and was VP Corporate Development of Hotwire, which was sold to Expedia for $685 million in 2003. Through his startup studio and venture capital firm, 75 & Sunny, Spencer is an active angel investor in over 100 companies and is incubating several more.

    ​Ian Cinnamon
    Ian Cinnamon

    On this episode of Office Hours, Apex founder and CEO Ian Cinnamon discusses the importance of investing in space exploration and shares his thoughts on the evolving space ecosystem in Los Angeles.


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    This Week in ‘Raises’: Measurabl Snags $93M, Selva Ventures Grabs $34M

    Decerry Donato

    Decerry Donato is a reporter at dot.LA. Prior to that, she was an editorial fellow at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

    Raises
    Image by Joshua Letona

    A local data management platform company lands fresh funding to help commercial real estate owners reduce carbon footprint, while one Los Angeles-based venture firm closes its second fund to accelerate the growth of emerging companies across health, wellness, beauty and personal care.

    ***

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    McKinsey & Company Launches InLA Accelerator To Help Underrepresented Founders Tackle Startup Challenges

    Decerry Donato

    Decerry Donato is a reporter at dot.LA. Prior to that, she was an editorial fellow at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

    McKinsey & Company Launches InLA Accelerator To Help Underrepresented Founders Tackle Startup Challenges
    InLA

    In 2022, female founders saw a 28% decline in overall U.S. funding, while Black-led startups saw a 38% decline in total capital received. In an effort to increase funding for minority-led startups, global venture firm McKinsey & Company is launching InLA, an accelerator program for underrepresented founders.

    “This effort is something that the firm has been really excited about for a long time,” Engagement Manager Elkhyn Rivas Rodriguez said. “There's obviously a meaningful and growing startup community out here and just from a diversity standpoint, LA is incredibly diverse and multi-ethnic and multicultural. So we think that there will be a really great pool of potential companies to partner with.”

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