2013 was a great year for startups in the Los Angeles area. The Bay Area up north from LA is widely considered the hot bed for startups, but Los Angeles proved that it is trying to keep pace in the digital space by raising over $1 billion in funding for the first time ever. Roughly 10% of that one billion came from Venice based Snapchat which turned down a $3 billion acquisition offer from social media giant, Facebook. Hopefully, 2014 continues the trend of growth in funding for startups here in the greater Los Angeles area. Below is the LA Startup Report with a hat tip to Built In Los Angeles for posting.