Silicon Beach

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Silicon Beach is the Westside region of the Los Angeles metropolitan area that is home to more than 500 technology companies, including startups. It is particularly applied to the coastal strip from Los Angeles International Airport north to the Santa Monica Mountains, [1] but the term may be applied loosely or colloquially to most anywhere in the Los Angeles Basin. Startups seeded here include Snapchat [2] and Tinder. Major technology companies that opened offices in the region including Google, Yahoo!, YouTube, BuzzFeed, Facebook, Salesforce, AOL, Electronic Arts, Sony, EdgeCast Networks, MySpace, Amazon.com, Apple, Inc., and Netflix. [3] By some 2012 metrics, the region was the second or third-most prominent technology hub in the world. [4] [5] In the first six months of 2013, 94 new start-ups in Silicon Beach raised over $500 million in funding, and there were nine acquisitions. [6]

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The area offers relatively easy access to LAX (Los Angeles International Airport), the biggest and most connected airport in western North America. [7]

As in the San Francisco Bay Area, the influx of technology companies has boosted home and office rents and real estate prices in Playa Vista, Playa Del Rey, Westchester, Santa Monica, and Venice, already high previously due to beachfront location. The effects are also spilling over into Marina del Rey and Hermosa Beach. [8]

Start-up pockets have also emerged in nearby Culver City, West L.A., and El Segundo. [9] Other pockets include Downtown Los Angeles, Beverly Hills, Hollywood, Glendale, and the San Fernando Valley. [10] [11] The tendency of companies to congregate in these centrally-located, high income areas has raised concerns [12] about the feasibility of racial minorities joining the workforce, as they tend to live in further outlying areas. [13]

Silicon Beach is also home to start-up incubators and accelerators, such as Amplify.LA, Science, Disney Accelerator, TechStars, and Cedars Sinai. [14]

The Los Angeles metro area was home to 88,000 engineers in 2021, the highest number of any metro area in the United States. [15] [16] Higher education institutions in Los Angeles County graduate 6,600 engineering majors a year, the highest of any county in the United States. [17]

Higher education institutions headquartered in Silicon Beach include Loyola Marymount University and Otis College of Art and Design. [18] Other higher education institutions in the nearby Southern California region or with satellite campuses in/nearby Silicon Beach include: Pepperdine University, Santa Monica College, Art Center College of Design, California Institute of Technology, University of California Los Angeles, University of Southern California, Occidental College, Cal State L. A., Cal State Northridge, Cal State Long Beach, Cal State Dominguez Hills, Cal Poly Pomona, and the Claremont Colleges.

List of technology companies based in Silicon Beach

CompanyYear foundedIndustryValuation
Abstract2020Govtech
AdColony2011AdtechAcquired by Opera for $350 million [19]
Age of Learning 2007Education
Bitium 2012Cloud ComputingAcquired by Google for an unknown amount [20]
Branded Online2010Ecommerce & Online Marketing Agency
Cornerstone OnDemand 1992Cloud
Distillery2008Mobile Application Development, UX/UI
Dollar Shave Club 2011 Consumer packaged goods Acquired by Unilever for $1 billion [21]
Eaze 2014 Cannabis
Enplug 2012 Software $2.5 million [22] [23]
Fair2016Automotive, Fintech
Falcon Computing Solutions2014High Performance Computing, FPGA acceleration - tools and solutions
Flexport2013Digital Freight Forwarding
FloQast 2013Accounting Software
Flustr2019Consumer Tech, Entertainment
Fullscreen 2011Digital Media
Gnarbox2014Consumer electronics
GOAT2015e-commerce, Fashion (sneakers)
Headspace 2010Health
HelenHealth (ZB Technologies, Inc.)2016Digital Health
The Honest Company 2012e-commerce
Honey 2012Cashback website, online couponsAcquired by PayPal in 2020 for $4 billion [24] [25] [26]
Hulu 2007Television Streaming Services$15.8 billion [27]
Hyperloop One 2014Transportation
LegalZoom 1999Legal
Libermans Co2021Investments$400 million [28]
MatchCraft1998Digital Marketing Platform Technology & Services
Metropolis Technologies 2017Parking and artificial intelligence company
MuteSix2014Performance Marketing Agency
Nasty Gal 2006 Retail Unknown - Chapter 11 [29]
Oculus VR 2012Virtual realityAcquired by Facebook, Inc. in 2014 for $2 billion [30]
Onestop Internet2004Full Service Ecommerce Agency
Ring 2012Home Security DevicesAcquired by Amazon for $1 billion [31]
Riot Games 2006Video Games
Science 37 2014Medical technology
Scopely 2011Video Games$1.7 billion [32]
ServiceTitan 2012Software technology platform$8.3 billion [33]
Snail Games2000Video Games
Snap Inc. 2011 Social media $23 billion [34]
Swagbucks 2007Digital Rewards & Cash Back
Tala2011Fintech
Thrive Market 2013e-commerce
TI Health2010Data and Analytics, Healthcare Digital Marketing
TigerConnect 2010 Messaging, Text Analytics, Communications Infrastructure$625 million [35]
Tinder 2012Social Media
TrueCar 2005Automotive websites$1.65 billion [36]
Wag 2014Pets
WebJoint [37] 2014Cannabis
Whisper 2012 Social media
Wpromote 2001Digital Marketing Agency
.xyz 2014Internet Domain Registry
ZestFinance2009Fintech
ZipRecruiter 2010Hiring

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References

  1. ↑ Machalinski, Anne (May 22, 2019). "Los Angeles Tech Scene Expands Beyond Silicon Beach". Barrons. Retrieved July 23, 2019.
  2. ↑ Hernandez, Daniel (August 23, 2019). "Snapchat's Disappearing Act Leaves Venice Beach Searching for Its Future". The New York Times. ISSN   0362-4331 . Retrieved August 24, 2019.
  3. ↑ "Google, Netflix, Amazon, and Apple are planning on becoming millionaires of a different kind". January 16, 2019.
  4. ↑ "Startup Genome Ranks The World's Top Startup Ecosystems: Silicon Valley, Tel Aviv & L.A. Lead The Way". TechCrunch. November 20, 2012.
  5. ↑ "Silicon Beach emerges as a tech hotbed". USA Today. July 15, 2012.
  6. ↑ "Over $500M Raised by 92 LA Startups in the First Half of 2013".
  7. ↑ Sharp, Sonja (August 21, 2019). "'I'm not even 30, and I'm flying my own jet' — Silicon Beach elites take a seat in the cockpit". Los Angeles Times . Retrieved August 21, 2019.
  8. ↑ Logan, Tim (January 2, 2015) "Buoyed by Silicon Beach, Westchester enjoys a housing surge" Los Angeles Times
  9. ↑ Khouri, Andrew (January 15, 2016). "Bixby Land's $49-million office building sale a sign 'it's not the old El Segundo'". Los Angeles Times . Retrieved January 16, 2016.
  10. ↑ Chang, Andrea (March 7, 2015). "Tech scene takes hold in revitalized downtown L.A." Los Angeles Times .
  11. ↑ Ungerleider, Neal (October 31, 2014). "Why A Subway-Building Binge Could Transform L.A.'s Tech Culture". Fast Company . Retrieved December 28, 2015.
  12. ↑ "Why Tech Degrees Are Not Putting More Blacks and Hispanics Into Tech Jobs".
  13. ↑ Haya El Nasser (April 29, 2015). "Job sprawl hurting minorities and the poor in suburbia". america.aljazeera.com. Retrieved August 21, 2019.
  14. ↑ "A list of top LA accelerators and incubators". May 17, 2013.
  15. ↑ "America's Engineering Hubs: The Cities With The Greatest Capacity For Innovation". Forbes . July 13, 2013.
  16. ↑ "May 2021 Metropolitan and Nonmetropolitan Area Occupational Employment and Wage Estimates Los Angeles-Long Beach-Anaheim, CA".
  17. ↑ "Engineering". datausa.io. Archived from the original on June 7, 2023. Retrieved June 26, 2023.
  18. ↑ Staff (June 2018). "Silicon Beach: The Next Wave". LMU Magazine. Loyola Marymount University. Archived from the original on August 13, 2015.
  19. ↑ Gagliordi, Natalie. "Opera Software acquires AdColony for up to $350 million". ZDNet. Retrieved January 8, 2019.
  20. ↑ "Google Cloud acquires cloud identity management company Bitium". TechCrunch. September 26, 2017. Retrieved January 8, 2019.
  21. ↑ Primack, Dan (July 19, 2016). "Unilever Buys Dollar Shave Club for $1 Billion" . Fortune.
  22. ↑ Lawler, Ryan (April 17, 2014). "Digital Display Startup Enplug Raises $2.5 Million Seed Round". TechCrunch. AOL. Retrieved May 21, 2014.
  23. ↑ Smith, Samantha. "LA Startup Goes from 0 to 100mph In Three Months". Forbes. Retrieved May 22, 2014.
  24. ↑ "PayPal Completes Acquisition of Honey" (Press release). PR Newswire. January 6, 2020.
  25. ↑ Taulli, Tom. "Why PayPal Paid $4 Billion For Honey Science". Forbes. Retrieved January 28, 2020.
  26. ↑ Peters, Jay (November 20, 2019). "PayPal acquires the company behind the Honey deal-finding extension for $4 billion". The Verge. Retrieved February 25, 2020.
  27. ↑ Curry, David (May 24, 2023). "Hulu Revenue and Usage Statistics (2023)". Business of Apps.
  28. ↑ Heller, Nathan (July 25, 2022). "Is Selling Shares in Yourself the Way of the Future?". The New Yorker. ISSN   0028-792X . Retrieved November 4, 2024.
  29. ↑ Sherman, Lauren (May 26, 2017). "Can Nasty Gal Be Saved?" . BoF.
  30. ↑ "Honey's Billionaire Founder Buys $60 Million Bel Air Mega-Mansion". March 11, 2020.
  31. ↑ Green, Dennis. "Amazon's $1 billion acquisition of the doorbell-camera startup Ring is the company doing what it does best — and it should terrify every other retailer". Business Insider. Retrieved January 8, 2019.
  32. ↑ Spangler, Todd (October 29, 2019). "Scopely Valued at $1.7 Billion After $200 Million Round, With Mobile Game Company's Sights Set on M&A". Variety. Retrieved May 29, 2020.
  33. ↑ "ServiceTitan, Software Provider For Tradespeople, Reaches $8.3 Billion Valuation". Forbes. March 26, 2021. Retrieved September 16, 2022.
  34. ↑ "SNAP Key Statistics | Snap Inc. Class A Common Stock Stock - Yahoo Finance". finance.yahoo.com. Retrieved March 20, 2017.
  35. ↑ "Funderbeam". www.funderbeam.com. Archived from the original on October 26, 2016.
  36. ↑ "TrueCar, Inc. Common Stock (TRUE)". NASDAQ.com.
  37. ↑ "These Young Founders Give Cannabis Brands The Opportunity To Market Directly To Consumers". Forbes. September 27, 2018. Retrieved February 28, 2020.
  38. ↑ Porter, Martin (November 1983). "The Talk of Boca". PC Magazine. p. 162. Retrieved October 22, 2013.
  39. ↑ Hill, Ryan (February 4, 2016) [www.triton.news/2016/02/813/ "San Diego is bringing back Silicon Beach"] [The Triton]
  40. ↑ LeMay, Renai (July 28, 2008). "Silicon Beach Australia". ZDNet. Retrieved May 30, 2013.
  41. ↑ Kohler, Alan (November 21, 2012). "Australia's "Silicon Beach" is no Entrepreneurs Paradise". The Drum. ABC.

33°58′35″N118°27′04″W / 33.9764°N 118.4512°W / 33.9764; -118.4512

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