Posted by: bluesyemre | February 17, 2013

Having created 200 LA tech jobs in 2012, Science raises another $30M


  • Fifteen months into its effort to redefine the way companies are conceptualized, funded, and scaled, Santa Monica tech studio Science has added some more powder to its musket. As first reported last night by AllThingsD, the company has raised in the neighborhood of $30 million from Hearst Ventures. The interesting and unusual thing about the Science model, as opposed to accelerators or venture capital firms, is that it views itself as an operating entity along the lines of a media company. The group thinks of each startup as a new division of the core business, even though it will eventually own a minority stake in most cases (although not as minority as a traditional accelerator or VC). That means that the latest capital does not represent the formation of a new fund, but rather goes directly onto its balance sheet. As a result, Hearst gets a stake in everything the company has created to date.

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