Sony’s announcement this week to buy Gaikai for $380 million shines a light on the startup ecosystem in Los Angeles and the explosive growth that’s taking place.
“Sony’s announcement this week [07/02/2012] to buy Gaikai for $380 million shines a light on the startup ecosystem in Los Angeles and the explosive growth that’s taking place. Though the majority of the conversation to date has been about LA’s historical strengths in digital media and commerce, Gaikai represents a new class of companies built around engineering talent solving hard problems.
LA has once again become a hotbed for technical leadership, as indicated by the flurry of investment activity. Entrepreneurs in the LA region attracted $567 million in venture capital in the first quarter of this year, 50% greater than the NY Metro area in the first quarter of the year, according to PriceWaterhouseCooper’s Money Tree report. Between the outstanding technical talent and the passion and vision of great founders, those dollars are being invested into technology-driven companies that break the stereotype of startups in LA…”