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ChargerHelp raises $2.75M to keep EV chargers working

The coming wave of electric vehicles will require more than thousands of charging stations. In addition to being installed, they also need to work — and today, that isn’t happening.
If a station doesn’t send out an error or a driver doesn’t report it network providers might never know there’s even a problem. Kameale C. Terry, who co-founded ChargerHelp!, an on-demand repair app for electric vehicle charging stations, has seen these issues firsthand.
One customer assumed that poor usage rates at a particular station was due to a lack of EVs in the area, Terry recalled in …

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With an ARR topping $250 million, LA’s vertical SAAS superstar ServiceTitan is now worth $8.3 billion

Who knew building a vertical software as a service toolkit focused on home heating and cooling could be worth $8.3 billion?
That’s how much Los Angeles-based ServiceTitan, a startup founded just eight years ago is worth now, thanks to some massive tailwinds around homebuilding and energy efficiency that are serving to boost the company’s bottom line and netting it an unprecedented valuation for a vertical software company, according to bankers.
The company’s massive mint comes thanks to a new $500 million financing round led by Sequoia’s Global Equities fund and Tiger Global Management.
ServiceTitan’s backers are a …

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Side raises $150M at $1B valuation to help real estate agents go it alone

Side, a real estate technology company that works to turn agents and independent brokerages into boutique brands and businesses, announced Monday that it has raised $150 million in Series D funding.
Coatue Management led the round, which brings San Francisco-based Side’s valuation to $1 billion and total funding raised to over $200 million since its 2017 inception. Existing backers Matrix Partners, Trinity Ventures and Sapphire Ventures also participated in the new financing.
The round is notable in that the amount raised is significantly higher than the $35 million Side raised in a Series C round in November 2019. Valuation too increased nearly 7x compared to …

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Now approved in LA, Abodu’s backyard homes can now go from contract to completion in as little as 30 days

Abodu, one of a slew of startup companies pitching backyard homes and office spaces to Californians in an effort to help address the state’s housing shortage, has instituted a new “Quickship” program that can take an order from contract to construction and installation in about 30 days.
Behind the quick turnaround time is a pre-approval process that was first rolled out in Santa Fe and came to Los Angeles in recent weeks.
Abodu began installing homes through a pre-approval process back in 2019, when the city of San Jose created a program that allowed developers of alternative dwelling units to submit …

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Why Are Jobless Claims Still High? For Some, It’s the Multiple Layoffs.

Jobs are coming back. Businesses are reopening. But a year after the pandemic jolted the economy, applications for unemployment benefits remain stubbornly, shockingly high — higher on a weekly basis than at any point in any previous recession, by some measures.And headway has stalled: Initial weekly claims under regular and emergency programs, combined, have been stuck at just above one million since last fall, and last week was no exception, the Labor Department reported Thursday.“It goes up a little bit, it goes down, but really we haven’t seen much progress,” said AnnElizabeth Konkel, an economist for the career …

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California Sues Nursing Home Chain, Saying It Manipulated Ratings System

California prosecutors sued the country’s largest chain of senior living communities on Monday, accusing the company, Brookdale Senior Living, of manipulating the federal government’s nursing-home ratings system.The lawsuit was filed by California’s attorney general, Xavier Becerra, and other prosecutors against Brookdale, which operates multiple nursing homes in the state.The lawsuit is among the first of its kind to accuse nursing homes of submitting false information to Medicare’s ratings program. The system assigns stars — one being the worst, five being the best — to the nation’s more than 15,000 nursing homes.The system is powered by …

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California Sues Nursing Home Chain, Accusing It of Manipulating Ratings System

The result, prosecutors said, was that Brookdale “has been awarded higher star ratings than it deserved.” They added, “The chain’s manipulation has allowed Brookdale to attract prospective patients and their families to its facilities by misleading them about its quality of care.”Prosecutors also accused Brookdale of illegally evicting or transferring residents so that the chain could “fill its beds with residents who will bring in more money.” In one instance highlighted in the suit, prosecutors said Brookdale discharged a 78-year-old resident who suffered from heart and kidney disease without removing his catheter.The lawsuit seeks civil penalties and …

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SoFi acquires community bank Golden Pacific Bancorp to speed up its national bank charter process

SoFi, more formally known as Social Finance, announced today that it has agreed to acquire Golden Pacific Bancorp (GPB) for about $22.3 million.
The dollar amount is not staggering. What is more notable about the acquisition is that it’s giving SoFi a quick route to getting a national bank charter. SoFi, a digital personal finance company, got preliminary approval for a bank charter last October. By acquiring Golden Pacific, the company gets a fast track into that process. Once the transaction closes later this year, GPB will become a subsidiary of the company.
A national bank charter will give SoFi …

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‘I’ve Never Seen Anything Like This’: Chaos Strikes Global Shipping

Off the coast of Los Angeles, more than two dozen container ships filled with exercise bikes, electronics and other highly sought imports have been idling for as long as two weeks.In Kansas City, farmers are struggling to ship soybeans to buyers in Asia. In China, furniture destined for North America piles up on factory floors.Around the planet, the pandemic has disrupted trade to an extraordinary degree, driving up the cost of shipping goods and adding a fresh challenge to the global economic recovery. The virus has thrown off the choreography of moving cargo from one continent to another. …

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Hurt by Lockdowns, California’s Small Businesses Push to Recall Newsom

Small businesses across the country have suffered from shutdowns that sometimes seem to flare up as suddenly as surges in the coronavirus itself. Restaurants, gyms, corner stores and spas have closed, some after trying to hang in there for months.The pain in California has been acute. Nearly 40,000 small businesses had closed in the state by September — more than in any other state since the pandemic began, according to a report compiled by Yelp. Half had shut permanently, according to the report, far more than the 6,400 that had closed permanently in New York.Few of the pandemic choices that Mr. …

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