Los Angeles(LA) which happens to be the second largest city in the United States after New York is said to be slowly turning into a booming paradise for tech startups. In recent months, hordes of venture capitals from Northern California are regularly commuting the City of Los Angeles in search of the best real estate deals to move their offices to the scenic city from Bay area.
When we get into the financial segment, the news happens to be even more vibrant as in the year 2016 alone, the city’s startups received around $3 billion in funding, around six times more than 2012, as per a research report of CB Insights.
According to another CB Insights detailed report, the year 2014 witnessed venture funding of tech startups greater in the area of Los Angeles area by 25 percent- which accounts to $2 billion funding for 194 deals.
And Bloomberg has already reported that LA is now occupying the third most prominent outpost for startups in America, after San Francisco and New York.
The advantages are many for those investing in the most populous city located in Southern California, as it has several goo universities, a classy weather, and a relaxed culture- making all features close to San Francisco and being offered at a very low cost
Remember, the original monetization of the internet was created in LA and not in the Silicon Valley, which most people assume.
Going with the list, Hollywood Star Jessica Alba’s business ‘Jessica Alba’s Honest.Co’ happens to stand out as one of the top booming business in the city of LA. Founded in 2011, by Ms. Alba, Sean Kane and Brian Lee along with Christopher Gavigan, this startup has got a $230 million from investors. Although it has nothing to with the tech industry, its own non-stalling growth has made us mention it in the article.
Coming to tech, Zynga, the mobile gaming company happens to be one of big flourishing companies in the tech world of LA. Service is another buzzy startup which helps solve the customer problems with/for airlines. Likewise, the growth of Twitch, Clutter, uBeam, CrowdStrike, Soylent, Hyperloop, and Snapchat show us how much prosperity the city of Los Angeles offers for startups.
What these developments indicate?
All this culminates to prove one point and that is the city of angels has succeeded in fighting against the stereotype that it’s not the place for “ serious” new businesses. This clearly states that LA’s ecosystem is far more robust than its reputation would suggest.
