Friday, February 16, 2018

Amplify.LA: LA Sees Landmark Year In 2017

Venice, California-based early stage, pre-seed investment fund and accelerator Amplify.LA has released its latest report on the state of the Los Angeles technology scene, saying that the city had a "landmark year". The accelerator and investor--now in its sixth year--made its case for the LA region as a technology capital in its latest report, pointing out that LA now has been seeing a resurgence in the tech market, with such firms as Snapchat, Wag, ZipRecruiter, HyperLoop One, Honest Company, Ring, Tinder, and many others defining what has been a robust market since 2011. In the report, Amplify.LA pointed at all of the companies in Los Angeles that came out of the demise of MySpace, and argues that the growth of Snap is about to trigger another wave of startups in the market. For its own part, Amplify.LA says it now has 75 companies in its portfolio with a combined enterprise value of $1.3 billion, with so far 9 of its companies acquired.

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