Pioneer Square Labs at 5 years: The startup studio formed in 2015 by a cadre of Seattle’s leading angel and venture capital investors has rapidly emerged as a cornerstone of the Pacific Northwest’s red-hot innovation ecosystem. In the course of a six-month span during the pandemic, PSL spun out six new startups, bringing its overall total to 25. The astounding rate of entrepreneurial energy coming out of PSL is noteworthy — very few Seattle firms have helped create so many ideas, so quickly.
PSL’s long-term impact on the Seattle startup ecosystem remains to be seen. It does not yet have a breakout star or Seattle’s next unicorn, and some are critical of the startup studio model. Read our analysis.
F5’s acquisition spree: The Seattle-based application security and delivery company is set to buy another firm, this time paying $500 million for cloud computing startup Volterra. The deal is part of F5’s broader transformation as it moves aggressively into software and services, expanding beyond its traditional networking hardware business.
Epic buys RAD: In other M&A news, Epic Games, the giant behind Fortnite, has acquired Seattle-area game development toolset creator RAD Game Tools — a company that runs under the radar, but has quietly influenced much of the modern games industry. Read more.
Boeing to pay $2.5B in 737 MAX crisis: An agreement with the U.S. Justice Department will resolve a criminal charge related to the Federal Aviation Administration’s evaluation of Boeing’s 737 MAX airplanes. Read more.
Go Hawks! It’s NFL Playoffs time. Seattle takes on Los Angeles Saturday at 1:40 p.m. PT. FOX will be using its new “Megalodon” mirrorless camera system to capture those sweet cinematic end-zone shots after scoring plays. To get pumped up, watch the Beast Quake, which rumbled Seattle exactly one decade ago today.
Thanks for reading, and see all of our latest headlines below. — GeekWire managing editor Taylor Soper, taylor@geekwire.com.
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