A group of Silicon Valley millionaires are investing $200m in the GTA Social club, a Los Angeles-based social club that has been attracting crowds of hundreds of thousands of people a week.
The group, which includes former Google executive Steve Case and other investors, have formed a new company called GTA Social, which aims to expand into a more profitable social network.
The social club, which had $4m in annual revenue last year, has had a tough year in the past few years, with the group’s membership falling by nearly half in the first half of 2017 to a peak of about 100,000.
The club was founded in 2004 by Case, a former Google employee who now lives in Los Angeles.
Its Facebook page has about 50,000 followers.
GTA Social has been struggling to get by since the launch of its social network, Facebook, last year.
Its social network has been unable to cope with the flood of new users, who have found it hard to find their favorite clubs in Los Santos, especially in the suburbs of Los Angeles, where the club’s main area is.
GTA is trying to change that.
In January, GTA launched a new social club called GTA Club, which allows people to sign up for exclusive club features such as free parking, special VIP events and VIP passes.
The new GTA Social was launched in a bid to compete with the likes of Facebook and Twitter, which have more than 30 million members each, but has struggled to attract users.
GTA has also struggled to find a new place to hold its regular social gatherings, where members can meet, eat and drink.
The GTA Social Facebook page, which was recently updated with a new logo and a new name, is one of the biggest problems for the group, according to the founders of the group.
“We had been trying to attract new users and attract members to the GTA Club,” said Case.
“This was going to be a big part of our strategy going forward.”
Case said that GTA is now looking to build on its success in the mobile world by building out a larger social network in the future.
GTA said it was looking for a new CEO for GTA and that the group had a board of directors, which included former Google exec Steve Case, the founders said.
The board also includes former Facebook CEO Sheryl Sandberg and a former chief executive of AOL.
GTA says it is still in talks with other investors to help it expand its business.
“It’s not a very successful model,” said the GTA founders.
“The social club is not profitable.”
The GTA group has seen its membership decline from over 1.5 million in 2014 to fewer than 200,000 members this year.
GTA CEO Steve Case said it had not been profitable since the start of 2017, but he added that the social club had been struggling due to the recession.
In a statement, GTA said: “The GTA Social platform is experiencing rapid growth and we continue to believe that GTA has a sustainable future.
The company is working with investors to further expand the social platform and create more value for GTA members.”
The social media giant has said that the GTA club will soon be able to host regular events in the form of private events and events in GTA cities.
The announcement comes after GTA announced last year that it had a $4 million funding round, led by Andreessen Horowitz, to help finance GTA’s expansion plans.
GTA was founded by former Google employees who left Google in 2016, and now live in Los Bellinos.
In the past year, GTA’s members have had a hard time finding clubs in their area, including the area around the city of San Fernando Valley, where GTA is based.
The Facebook group is also seeing a spike in users, with more than 1.3 million active users in the last week.
However, GTA has struggled in the short term to attract more members.
GTA had a revenue of $4.3m in 2017, according a report by The Wall Street Journal.
That’s down from more than $15m in 2016.
GTA announced plans to raise $1.1bn in the third quarter of this year, which is the first time that it has raised capital in a year since it was founded.
In its statement to The Wall St Journal, GTA confirmed that it planned to open a new venue in downtown Los Angeles in 2021.
However the club is also looking to expand its services in other areas.
GTA told The Wall Times that it plans to launch a social hub in the area of downtown Los Santos.
GTA currently has a membership of about 10,000, and the social group has attracted hundreds of new members since the club launched.
The latest GTA social event, held on Sunday, had about 60,000 people attend.
“You can find any club in LA in your neighbourhood,” said GTA social club manager Steve Case.
“[It’s] easy to find the club, you just go to the venue and they’ll have a menu available for you.