Silicon Beach
Technology hub in California, US From Wikipedia, the free encyclopedia
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]
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
| Company | Year founded | Industry | Valuation |
|---|---|---|---|
| Abstract | 2020 | Govtech | |
| AdColony | 2011 | Adtech | Acquired by Opera for $350 million[19] |
| Age of Learning | 2007 | Education | |
| Bitium | 2012 | Cloud Computing | Acquired by Google for an unknown amount[20] |
| Branded Online | 2010 | Ecommerce & Online Marketing Agency | |
| Cornerstone OnDemand | 1992 | Cloud | |
| Distillery | 2008 | Mobile 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] |
| Fair | 2016 | Automotive, Fintech | |
| Falcon Computing Solutions | 2014 | High Performance Computing, FPGA acceleration - tools and solutions | |
| Flexport | 2013 | Digital Freight Forwarding | |
| FloQast | 2013 | Accounting Software | |
| Flustr | 2019 | Consumer Tech, Entertainment | |
| Fullscreen | 2011 | Digital Media | |
| Gnarbox | 2014 | Consumer electronics | |
| GOAT | 2015 | e-commerce, Fashion (sneakers) | |
| Headspace | 2010 | Health | |
| HelenHealth (ZB Technologies, Inc.) | 2016 | Digital Health | |
| The Honest Company | 2012 | e-commerce | |
| Honey | 2012 | Cashback website, online coupons | Acquired by PayPal in 2020 for $4 billion[24][25][26] |
| Hulu | 2007 | Television Streaming Services | $15.8 billion[27] |
| Hyperloop One | 2014 | Transportation | |
| LegalZoom | 1999 | Legal | |
| Libermans Co | 2021 | Investments | $400 million[28] |
| MatchCraft | 1998 | Digital Marketing Platform Technology & Services | |
| Metropolis Technologies | 2017 | Parking and artificial intelligence company | |
| MuteSix | 2014 | Performance Marketing Agency | |
| Nasty Gal | 2006 | Retail | Unknown - Chapter 11[29] |
| Oculus VR | 2012 | Virtual reality | Acquired by Facebook, Inc. in 2014 for $2 billion[30] |
| Onestop Internet | 2004 | Full Service Ecommerce Agency | |
| Ring | 2012 | Home Security Devices | Acquired by Amazon for $1 billion[31] |
| Riot Games | 2006 | Video Games | |
| Science 37 | 2014 | Medical technology | |
| Scopely | 2011 | Video Games | $1.7 billion[32] |
| ServiceTitan | 2012 | Software technology platform | $8.3 billion[33] |
| Snail Games | 2000 | Video Games | |
| Snap Inc. | 2011 | Social media | $23 billion[34] |
| Swagbucks | 2007 | Digital Rewards & Cash Back | |
| Tala | 2011 | Fintech | |
| Thrive Market | 2013 | e-commerce | |
| TI Health | 2010 | Data and Analytics, Healthcare Digital Marketing | |
| TigerConnect | 2010 | Messaging, Text Analytics, Communications Infrastructure | $625 million[35] |
| Tinder | 2012 | Social Media | |
| TrueCar | 2005 | Automotive websites | $1.65 billion[36] |
| Wag | 2014 | Pets | |
| WebJoint[37] | 2014 | Cannabis | |
| Whisper | 2012 | Social media | |
| Wpromote | 2001 | Digital Marketing Agency | |
| .xyz | 2014 | Internet Domain Registry | |
| ZestFinance | 2009 | Fintech | |
| ZipRecruiter | 2010 | Hiring |
Other uses
- 1983: PC Magazine reported that "some people are starting to call" Boca Raton, Florida—where IBM had developed its Personal Computer, and other technology companies had facilities—"Silicon Beach, in deference to the great valley of the West".[38]
- 1984: Silicon Beach Software was formed in San Diego, California.[39]
- 2008: Silicon Beach Australia was used[40] to describe the country's tech industry, including startup hubs in Sydney, Melbourne, Brisbane, and Perth.[41]
References
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