LA Business Journal Daily News

Heavy Duties

Gene Seroka guides the Port of LA — and the city’s PPE supply efforts

Gene Seroka, the executive director of the Port of Los Angeles, picked up additional duties in March when Los Angeles Mayor Eric Garcetti named him the city’s chief logistics officer.

Designs That Keep Diversity in Mind

Mambetov aims for ‘modest, not Muslim’

For L.A. fashion designer Elle Mambetov, the Covid-19 outbreak has meant figuring out how to introduce a new fashion line without the benefit of a traditional live runway show.

Santa Monica health tech startup Quantgene Inc. is one of dozens of companies racing to revolutionize cancer detection screening by using only a drop of blood instead of the intrusive biopsies prevalent today.

Letter from the Publisher and Editor

As our communities look for ways to move forward constructively, the need to effect change has never been greater. The business world is uniquely positioned to help drive that change — particularly in Los Angeles.

Silverstein Pursues US Bank Tower

Developer could pay up to $490 million

New York-based Silverstein Properties Inc. is reportedly in talks to acquire downtown’s U.S. Bank Tower from Singapore-headquartered OUE Ltd.

FDA Approves Fulgent Virus Tests

Company offering 凯发k8娱乐手机APP下载home-based kits

Temple City-based genetic testing firm Fulgent Genetics Inc. is joining the rush of companies with 凯发k8娱乐手机APP下载home-based Covid-19 tests, announcing the launch of its service after receiving emergency ization approval from the Food and Drug Administration.

Cottonwood, Shawmut Design Form Partnership

Firms will focus on education sector

Downtown-based Cottonwood Management and Boston-headquartered Shawmut Design and Construction have formed a partnership with the goal of expanding their education sector real estate footprint.

DroneBase Raises $8M, Sets Plans for Expansion

Series C brings total funding to $32 million so far

Santa Monica-based aerial data analytics company DroneBase Inc. announced $7.5 million in Series C funding, as well as expansion to the renewable energy market and its first overseas office in Germany.

SpaceX Adds Satellite Client for Latest Launch

Starlink shares payload with Planet Labs

Space Exploration Technologies Corp., the Hawthorne-based aerospace company, launched 58 Starlink satellites on a Falcon 9 rocket on June 13, then successfully landed the rocket on a waiting SpaceX ship at sea.

Rocket Lab USA Planning Monthly Satellite Missions

Next launch is expected after July 3

Rocket Lab USA Inc., the Long Beach-based space systems company, is targeting monthly launches for the remainder of 2020 following a successful June 12 mission that deployed satellites for NASA, the National Reconnaissance Office and the University of New South Wales Canberra Space.

LA's the Space Place

Region’s ‘dynamic’ aerospace industry requires huge real estate footprint

The aerospace industry, which has been a bright spot in Southern California’s real estate market for years, continues to shine.

Added Safety Measures Pay Off for Cityview

Rent collections remain steady as virtual leases rise

Century City-based multifamily developer Cityview has been striving to keep its communities working smoothly during the Covid-19 pandemic while also looking to the future.

Multifamily Site Sells in Silverlake

East Smart Choice acquires unique property for $8 million

East Smart Choice has purchased a multifamily property on the border of Silverlake and East Hollywood for nearly $8 million. The property has 11 recently completed units.

Student Housing Sets Financing

Ophir Terrace near UCLA secures $11 million loan

A student housing property near UCLA has secured $11 million in financing.

Cause for Concern

Economic uncertainty raises the prospect of an increase in going concern filings

Covid-19 has brought one of the greatest periods of market uncertainty in decades. The answers to major questions like when lockdown restrictions will be fully lifted, when customer demand will rebound and the extent to which the virus will ultimately affect the economy are simply unknowable.

Private Equity Sector Is Showing Signs of Life

While some firms are posting gains, category still faces a long road back

Covid-19 caused private equity fund managers to slam on the brakes but now they're facing some of the most complex deals of their careers.

Headspace Adds $48 Million to Series C

Meditation app developer also strikes deal with Snap

Headspace Inc., the Santa Monica-based meditation app developer, has raised an additional $47.7 million in equity from 10 investors for its Series C funding round.

QR Codes Facilitate Contactless Ordering

Companies offer platforms to bars and restaurants

Diners might soon find QR codes popping up on tables as local restaurants reopen under new health and safety guidelines designed to prevent the spread of Covid-19.

HyreCar Leans Into Deliveries

Company sets partnership with EV maker Arcimoto

HyreCar Inc., the digital car-sharing marketplace, has set its first partnership with a car manufacturer.

Cashless Transactions Gaining Favor

Pandemic boosts usage in food, beauty sectors

At many Los Angeles businesses, cash has become a casualty of Covid-19.