Los Angeles digital tech startups raised more than they ever have, totaling $811 million in funding.
“The good news isn’t stopping for Los Angeles tech. In the third quarter of 2014, Los Angeles digital tech startups raised more than they ever have, totaling $811 million in funding. They also exited to quite a nice tune, selling off for a total of $2.417 billion. All in all, 51 companies received funding and six exited via acquisitions.
Funding: $811 million
Exits: $2.417 billion
That increased funding is no doubt because outsiders are seeing the potential of LA startups more and more. Just this week PayPal co-founder Peter Thiel called LA tech the most “underestimated” region in the country. Thiel said to the LA Times: “I’d definitely be short New York and long L.A.”
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