Tappy, an L.A-based mobile startup behind an ephemeral, mobile messaging app, has been acquired by IAC-backed Tinder
Obalon Therapeutics, a 6.5-year-old, San Diego-based company behind a gastric balloon technology for weight loss therapy, has received $20 million in Series D funding and a $10 million loan from Square 1 Bank. The Series D investors included Axon Ventures, Mirae Asset Venture Investment, Striker Asia Opportunities Fund, Domain Associates, InterWest Partners and Okapi Venture Capital. The company has now raised roughly $69 million altogether, shows Crunchbase.
TVC Capital, a nine-year-old, San Diego-based software-focused growth equity firm, has closed its third fund with $115 million in commitments after three months on the market, it tells VentureWire. Among its LPs is the fund of funds group Northgate Capital.
Vimeo has struck a deal with YouTube's biggest content network, Disney-owned Maker Studios, that will see Maker creators sell content on Vimeo before they make it available for free—with ads—on YouTube.
Sophia Amoruso, the founder of the L.A.-based online fashion retailer Nasty Gal, is stepping down as CEO. Sheree Waterson, who joined the company as president roughly a year ago, will replace her. Waterson was formerly the chief product officer of Lululemon. Amoruso tells Recode the decision to change roles was her own. “While I find myself really capable of leading our customer . . . I’m not even a parent . . . I hope to someday be the leader that Sheree is.”
Neetzan Zimmerman, who served as editor-in-chief of the secret-sharing app Whisper, has left the company, he confirmed to Capital New York yesterday. Zimmerman and other staff members were suspended from the company in late October, following a series of Guardian stories that reported Whisper doesn't provide the anonymity for users that it promises them. Zimmerman, who reacted very publicly to the allegations (to the chagrin of Whisper CEO Michael Heyward), joined Whisper a year ago from Gawker, where he was a prized editor.