From Silicon Valley to the City of Angels

From Silicon Valley to the City of Angels

Posted by Vivek Nama on November 4th 2016

According to an article published in The Economist, Los Angeles is now becoming a preferred destination for start-ups. According to CB Insights, a research firm it is said that the start-ups located in this city have received more than $3Billion in funding, which was 6 times more than in 2012. Los Angeles is now the third-most-prominent destination for start-ups in America, after San Francisco and New York.
 
Compass, a company that provides metric software for start-ups has  also listed Los Angeles as  place which has great potential for start-ups  Evan Spiegel’s firm, Snap which is known for its Snapchat social-media messages service worth at $18bn, Dollar Shave Club, an e-commerce firm which recently sold to Unilever for $1bn, Tinder the dating site, Applied Semantics which was bought by Google, Ring, a “smart” doorbell company, and Riot Games, maker of “League of Legends”, a popular online multiplayer contest are all located there.
 
The warm sunny weather, fairly good universities, lower cost of living, cheaper commercial spaces and a relaxed work culture and attitude are some of the advantages for start-ups to boom in this City of Angels. Whether its proximity to Hollywood has any creative impact on the start-up ecosystem is yet to be seen, but  it has been ranked 6th in the Global Cities Index and 9th in the Global Economic Power Index making it a promising destination for start-ups in the future. 
 
So move over Bay Area and welcome to Beverly Hills (from northern California to the southern part of California for the uninitiated)!

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