All eyes may have been on ASCO to start the week, but that wasn’t the only news emanating from biotechs on the East Coast. We’ve got all the details here: —Luke Timmerman, Xconomy’s National Biotech Editor, had the winners, losers, and everything in between in his two-part wrap of this year’s annual meeting of the … Continue reading “East Coast Life Sciences Roundup: ASCO, Follica, Aveo, & More”
Category: Boston
Coffee Goes from Folger’s, to Starbucks, to Tech-Driven ‘Third Wave’
There’s change brewing in the world of coffee. Over the last 10 years or so, an assortment of independent “third wave” coffee roasters has appeared in cities like Seattle, San Francisco, New York, Boston, Austin, and Boulder—in other words, the same high-tech hubs we cover here at Xconomy. Each Xconomy editor has his or her … Continue reading “Coffee Goes from Folger’s, to Starbucks, to Tech-Driven ‘Third Wave’”
ConnectEDU Lands $5,515,094 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=c04a2497-3d75-4d0d-b305-56ff2ebd18f5&Preview=1 Date 6/7/2013 Company Name ConnectEDU Mailing Address 600 Atlantic Ave. 20th Floor Boston, MA 02210 Company Description ConnectEDU is the nation’s leading technology firm dedicated to providing students, educators and employers with comprehensive solutions to successfully navigate education and employment transitions. Website http://www.connectedu.com Transaction Type Venture Equity Transaction Amount $5,515,094 Transaction … Continue reading “ConnectEDU Lands $5,515,094 New Round”
iVantage Health Analytics Receives $10,000,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=862db881-7bfd-4f6e-b35b-76e643a96e42&Preview=1 Date 6/7/2013 Company Name iVantage Health Analytics Mailing Address 509 Forest Avenue Portland, ME 04101 Company Description The company is developing healthcare analytics technologies. Website http://www.ivantagehealth.com Transaction Type Venture Equity Transaction Amount $10,000,000 Transaction Round Undisclosed Proceeds Purposes The equity investment will fund expanded sales and marketing efforts, additional investment in … Continue reading “iVantage Health Analytics Receives $10,000,000 New Financing Round”
Brand Networks Garners $68,000,000 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=4edc8658-9784-4cab-9e65-a7f65a94a263&Preview=1 Date 6/7/2013 Company Name Brand Networks Mailing Address 180 Canal St Boston, MA 02114 Company Description Today, Brand Networks is fortunate to work with some of the world’s most Liked brands, including American Express, Starbucks and Macy’s, but in those early days in their “attic offices”, it was Monster.com, TruTV and … Continue reading “Brand Networks Garners $68,000,000 New Funding”
UMass Amherst Wins $100.5M in Grants From MA Life Sci Initiative
Massachusetts Gov. Deval Patrick’s $1 billion life sciences initiative has just signed its biggest check to date—and it’s not going to Cambridge. Patrick and the Massachusetts Life Sciences Center today pledged $100.5 million to two research projects in Western Massachusetts through the Massachusetts Life Sciences Initiative. The University of Massachusetts Amherst won a $95 million … Continue reading “UMass Amherst Wins $100.5M in Grants From MA Life Sci Initiative”
Verastem Switches CEOs as Westphal Steps Into Chairman Role
[Updated, 7:50 pm ET]Christoph Westphal co-founded Verastem in August 2010, invested in it, ran it as chairman and CEO in its early days, and took the company public last year. Now he’s officially stepping back a bit from the day-to-day responsibility of running the show. That’s the message Westphal gave Wednesday as he stepped down … Continue reading “Verastem Switches CEOs as Westphal Steps Into Chairman Role”
Facebook Ad Startup Brand Networks Gets $68M to Fuel Growth
A year after Facebook went public in the most anticipated tech IPO of its generation, money is pouring into companies that might help the social network deliver more profits to its shareholders. Boston-based Brand Networks is among those reaping the benefits. Today, the small Facebook advertising company says it has received a $68 million growth … Continue reading “Facebook Ad Startup Brand Networks Gets $68M to Fuel Growth”
Miguel de Icaza, Wayne Chang, Founders’ Stories, & Blackjack: XSITE June 19
Just under two weeks to go before our blowout event of the year: XSITE 2013: Boston’s Tech Revival at Babson College on Wednesday, June 19. (Full agenda here.) Tom Leighton, the CEO and co-founder of Akamai, will set the table with a historical perspective on Kendall Square and the Boston-area tech community, followed by a … Continue reading “Miguel de Icaza, Wayne Chang, Founders’ Stories, & Blackjack: XSITE June 19”
BitSight Technologies Receives $24,000,000 Series A Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=09e1c492-2ff1-4314-94c0-c46435f03561&Preview=1 Date 6/6/2013 Company Name BitSight Technologies Mailing Address 125 Cambridge Park Dr Cambridge, MA 02140 Company Description Our empirical, data-driven risk assessments provide organizations with the insight they need to proactively identify, quantify, and mitigate risk. Website http://www.bitsighttech.com Transaction Type Venture Equity Transaction Amount $24,000,000 Transaction Round Series A Proceeds Purposes … Continue reading “BitSight Technologies Receives $24,000,000 Series A Financing Round”
Sensentia Garners $100,000 Seed Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=ddaa18c3-3a87-4fa7-8cf1-2500e086c16a&Preview=1 Date 6/6/2013 Company Name Sensentia Mailing Address Undisclosed Cambridge, MA 02139 Company Description Sensentia is developing a new breed of intelligent systems for healthcare administration and operation. Website http://www.jjungcla.wix.com/sensentia Transaction Type Accelerator Transaction Amount $100,000 Transaction Round Seed Proceeds Purposes The company will use the proceeds to accelerate its initial development. … Continue reading “Sensentia Garners $100,000 Seed Funding”
Another Way SaaS Changes Everything
There are a lot of “new rules” in enterprise software sales. We discussed many of them in depth at a recent industry forum: it’s now a buying process and not a selling process, the steak dinner and golf game are out, the length of the sales cycle has shortened, and so on. Many of the … Continue reading “Another Way SaaS Changes Everything”
StillSecure Sells Off Managed Services Division, Promotes New CEO
Big changes appear to be happening at StillSecure, which announced today it has sold its managed security services division to a Connecticut-based company for an undisclosed price and has named a new CEO. StillSecure is a network security company based in Superior, CO. StillSecure struck the deal with SilverSky, which develops cloud-based security software and … Continue reading “StillSecure Sells Off Managed Services Division, Promotes New CEO”
SAP Snaps Up E-commerce Tech Biz Hybris, Plans to Keep It Independent
Enterprise software company SAP announced Wednesday it acquired e-commerce software company hybris, which has its U.S. headquarters in New York and offices in Boston. The deal is expected to close by the third quarter with hybris operating as an independent business within its new parent company. Germany-based SAP said it plans to combine its technology … Continue reading “SAP Snaps Up E-commerce Tech Biz Hybris, Plans to Keep It Independent”
Boston Roundup: Affirmed Networks, BitSight, Mobiquity, Spark Capital
It’s suddenly a busy week for fundraising news around the Boston-area innovation scene, and it’s only half over: —Affirmed Networks, an Acton, MA-based startup that sells software for improving wireless networks, has raised $51 million in Series C financing. The investment was led by Bessemer Venture Partners, and included KCK Group and the company’s previous … Continue reading “Boston Roundup: Affirmed Networks, BitSight, Mobiquity, Spark Capital”
Aveo Rests Fate on Remaining Mid-Stage Trials For Cancer Drug
Executives of Cambridge, MA-based Aveo Oncology today further defended their decision to cut the majority of their company’s rank and file, while largely pinning the biotech’s hopes on two key clinical trials that should wrap up by the end of 2014. “This is an incredibly sad day for Aveo,” president and CEO Tuan Ha-Ngoc said … Continue reading “Aveo Rests Fate on Remaining Mid-Stage Trials For Cancer Drug”
ASCO Wrap-Up: Cancer News from the East, South, & Rockies
The herds who attended the American Society of Clinical Oncology have now gone home after a frenzied few days of absorbing what’s new in cancer R&D. Yesterday, I wrapped up some of the big news from cancer drugmakers on the West Coast, and now I’m attempting to hit the highlights of companies from the other … Continue reading “ASCO Wrap-Up: Cancer News from the East, South, & Rockies”
Amazon’s Grocery Expansion: A Match Made in Sales-Tax Heaven
In Amazon’s hometown of Seattle, people are pretty used to the sight of bright green Amazon Fresh trucks zipping around the city, loaded down with containers and bags full of groceries delivered to their door. Now it’s looking like folks in other cities might start getting a taste of Amazon’s grocery deliveries. And they’ve got … Continue reading “Amazon’s Grocery Expansion: A Match Made in Sales-Tax Heaven”
Lantos Technologies Secures $1,450,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=4f0571c7-b388-4b87-9fd4-06b53618e723&Preview=1 Date 6/5/2013 Company Name Lantos Technologies Mailing Address 101 Rogers St. Cambridge, MA 02142 Company Description Lantos Technologies is working to commercialize a 3D digital scanner capable of measuring ear canal shape and tissue compliance. This method will eliminate the uncertainties associated with manual fits, greatly improving the performance of custom … Continue reading “Lantos Technologies Secures $1,450,000 New Financing Round”
Affirmed Networks Receives $51,000,000 Series C Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=bda30206-c953-45a8-84e9-63c1ebf67b68&Preview=1 Date 6/5/2013 Company Name Affirmed Networks Mailing Address 35 Nagog Park 1st Floor Acton, MA 01720 Company Description Affirmed Networks is an exciting new company located in the Boston area developing new technologies for the wireless industry. Website http://www.affirmednetworks.com Transaction Type Venture Equity Transaction Amount $51,000,000 Transaction Round Series C Proceeds … Continue reading “Affirmed Networks Receives $51,000,000 Series C Financing”
Mobiquity Garners $12,000,000 Series B Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=297c323f-3d56-4a46-b90a-a16020837714&Preview=1 Date 6/5/2013 Company Name Mobiquity Mailing Address 16 Laurel Ave Wellesley Hills, MA 02481 Company Description Mobiquity is a strategy-led, implementation driven Mobile Computing professional services firm focused on architecting, developing and deploying custom mobile solutions for the Global 2000. Mobiquity offers a broad range of services for clients seeking to … Continue reading “Mobiquity Garners $12,000,000 Series B Financing Round”
SAP Acquires Hybris Software for Undisclosed Sum
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=98721d35-2320-49e2-bc72-fb425403c1ac&Preview=1 Date 6/5/2013 Company Name Hybris Software Mailing Address 470 Atlantic Ave 4th Floor Boston, MA 02210 Company Description The future of commerce. Today. Hybris helps businesses on every continent sell more goods, services and digital content through every touch point, channel and device. Website http://www.hybris.com Transaction Type M&A Transaction Amount Undisclosed … Continue reading “SAP Acquires Hybris Software for Undisclosed Sum”
Aveo Cuts 140 Jobs As Fallout From FDA Panel Continues
Aveo Oncology’s workforce is now bearing the brunt of the collateral damage from the company’s failure before an FDA advisory panel in May. The Cambridge, MA-based biotech has outlined a sweeping restructuring plan that will involve slashing 140 jobs—roughly 62 percent of its employees. Aveo (NASDAQ: [[ticker:AVEO]]) expects to save about $190 million over the … Continue reading “Aveo Cuts 140 Jobs As Fallout From FDA Panel Continues”
Prime Student Loan Leads New Pack of Entrants in Education Finance
It’s June, which means school is just getting out. For new college grads (and post-grads), that means the pain of paying back student loans is just about to begin. Student loans are a busy topic lately. The total debt and default rates in the industry are sky-high. President Obama has been sparring with Congress over … Continue reading “Prime Student Loan Leads New Pack of Entrants in Education Finance”
InsightSquared Gets $8M to Continue (Boring) Business Intelligence Growth
A few weeks ago, Fred Shilmover, the CEO and co-founder of InsightSquared, gave the most boring interview I’ve done all year. In this case, that’s a good thing. The Cambridge, MA-based business-intelligence startup is announcing $8 million in Series B funding today, led by new investor Draper Fisher Jurvetson. Previous investor Atlas Venture also participated … Continue reading “InsightSquared Gets $8M to Continue (Boring) Business Intelligence Growth”
We Owe it to Patients to Provide a Reliable Supply of Medicines
Too often in recent years, medicines for life-threatening conditions have been in short supply. It is unnecessary and avoidable for patients, their families, and health care professionals to experience and worry about medicine availability on top of the anxiety caused by their medical conditions. A reliable supply of high-quality medications is something all drug makers … Continue reading “We Owe it to Patients to Provide a Reliable Supply of Medicines”
InsightSquared Garners $8,000,000 Series B Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=005971aa-3916-4342-98a2-e0fd16f04b12&Preview=1 Date 6/4/2013 Company Name InsightSquared Mailing Address 160 Sidney Street Cambridge, MA 02139 Company Description InsightSquared is the best data intelligence software designed specifically for small and medium-sized businesses(SMBs). Website http://www.insightsquared.com Transaction Type Venture Equity Transaction Amount $8,000,000 Transaction Round Series B Proceeds Purposes The additional financing will allow InsightSquared to … Continue reading “InsightSquared Garners $8,000,000 Series B Financing Round”
How Carbonite, EMC Beat a Patent Troll Tied to Intellectual Ventures
[Updated 6/4, see below.] Intellectual Ventures, the controversial patent licensing company headed by former Microsoft technology chief Nathan Myhrvold, is under the microscope again. And a pair of Boston-area technology companies are part of the courtroom drama. This weekend, NPR and public radio program This American Life delved into the U.S. patent system again, following … Continue reading “How Carbonite, EMC Beat a Patent Troll Tied to Intellectual Ventures”
Founders and CEOs: You Can’t Outsource Learning
In a startup instead of paying consultants to tell you what they learned you want to pay them to teach you how to learn. Roominate, one of my favorite Lean LaunchPad teams came out to the ranch last week for a strategy session. Alice and Bettina had taken an idea they had tested in the … Continue reading “Founders and CEOs: You Can’t Outsource Learning”
Hair-Raising Follica Study Could Point to Baldness Therapy
[Updated, 11:00 am ET] Few stories have struck a chord with Xconomy’s readership quite like that of Follica, the PureTech Ventures-incubated startup founded in 2006 with plans to combat male and female pattern baldness by using adult stem cells to grow new hair follicles. Unfortunately, details regarding Follica’s science—let alone its clinical progress—have been as … Continue reading “Hair-Raising Follica Study Could Point to Baldness Therapy”
The Biotech IPO Scorecard: Who’s Up, Who’s Down in 2013
Remember Plexxikon? The Berkeley, CA-based company had a lot of talent for structural biology-based drug design, an impressive new treatment for melanoma, and a strong management team. Two years ago, nobody on Wall Street cared one whit. Plexxikon flirted with the idea of going public, found little interest, and sold itself off to Japan-based Daiichi … Continue reading “The Biotech IPO Scorecard: Who’s Up, Who’s Down in 2013”
With Big Bucks Chasing Big Data, Will Consumers Get a Cut?
As consumers, we’re often told a stampede of “big data” will soon make our lives better. Safer and cheaper healthcare, more effective government, lower prices at the corner store—it’s all possible when big companies start digging into the digital information produced by a constantly connected society. Today, the central bargain underwriting most of those lofty … Continue reading “With Big Bucks Chasing Big Data, Will Consumers Get a Cut?”
SynDevRx Secures $1,610,000 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=0c66edf6-a60a-4220-ad7a-77280afbae29&Preview=1 Date 6/3/2013 Company Name SynDevRx Mailing Address One Broadway 14th Floor Cambridge, MA 02142 Company Description Our mission is to improve human health by developing polymeric prodrugs which deliver MetAP2 inhibitors to diseased tissues. The first two drug candidates we are developing have been previously shown to shrink tumors, inhibit angiogenesis … Continue reading “SynDevRx Secures $1,610,000 New Funding”
Epizyme Soars 50 Percent in IPO Debut
It didn’t take much time for Epizyme to capture the hearts, minds, and cash of public investors Friday. The Cambridge, MA-based biotech (NASDAQ: [[ticker:EPZM]]) saw overwhelming support from investors for its IPO, which priced at $15 per share Thursday night—the high end of the $13 to $15 range it set a week prior. The good … Continue reading “Epizyme Soars 50 Percent in IPO Debut”
East Coast Life Sciences Roundup: Epizyme, Alkermes, Ophthotech, & More
If you’ve been away all week at an extended post-Memorial Day barbecue, have no fear! We’ve got all of your East Coast biotech news wrapped up below: —Waltham, MA and Dublin, Ireland-based Alkermes (NASDAQ: [[ticker:ALKS]]) unveiled detail results from its mid-stage clinical trial on ALKS 5461, its experimental drug for major depressive disorder. The drug, … Continue reading “East Coast Life Sciences Roundup: Epizyme, Alkermes, Ophthotech, & More”
Alkermes Unveils Full Mid-Stage Data On Depression Drug
[Updated, 9:45 am ET] Alkermes (NASDAQ: [[ticker:ALKS]]) has released all the details from a mid-stage clinical trial on a drug that attacks depression in a whole new way, giving the company a shot to add a potentially big moneymaker to its portfolio should the results hold up in a bigger study. The Dublin, Ireland and … Continue reading “Alkermes Unveils Full Mid-Stage Data On Depression Drug”
11 Reasons Why Flickr, Not Facebook, Is the Place to Put Your Photos
What’s the best way to put your pictures on the Internet these days? There are at least two answers to that question. If you’re just asking which photo sharing service is the most popular, then Facebook is the hands-down winner. People upload roughly 350 million photos to the social network every day. Snapchat isn’t far … Continue reading “11 Reasons Why Flickr, Not Facebook, Is the Place to Put Your Photos”
Why Not Test a Supply Chain Model? What We’ve Got Isn’t Working
I find myself siding more with Flagship’s Noubar Afeyan than with Katrine Bosley in the intriguing conversation emerging in Xconomy in recent weeks over the supply chain model for early stage biotech. Today neither biotech nor pharma are producing a sufficient supply of new products. If we can’t figure out a way to profitably finance … Continue reading “Why Not Test a Supply Chain Model? What We’ve Got Isn’t Working”
Epizyme Prices IPO at $15 Per Share, Begins Trading Friday
[Updated: 8:05 pm ET] Epizyme has gotten plenty done in a short period of time: since it set up shop in 2007, it’s locked in three rounds of financing, signed several partnership deals with big drugmakers, and has two drugs either in clinical trials or on the verge of starting them. Now, it will see … Continue reading “Epizyme Prices IPO at $15 Per Share, Begins Trading Friday”
Nuance Bolsters Automotive Offering with $80M Tweddle Acquisition
Nuance Communications, the voice recognition technology company, is making its second major Seattle-area acquisition, spending $80 million in cash for Tweddle Connect, an in-car content delivery system developed by a unit of Detroit-based Tweddle Group. Burlington, MA-based Nuance—whose Dragon Drive software already powers most voice control systems in 20 million new cars a year—would bolster … Continue reading “Nuance Bolsters Automotive Offering with $80M Tweddle Acquisition”
Boston Roundup: Nuance, Twitter, Carbonite, NuoDB, Adelphic
[Updated 4:20 pm] An acquisition, a product launch, some executive shuffles, and more in this collection of recent tech-news headlines from around the Boston area: —Nuance Communications, the Burlington, MA-based speech-recognition software company, is digging deeper into the automotive industry. The company (NASDAQ: [[ticker:NUAN]]) says it’s spending $80 million to buy a connected-car business from … Continue reading “Boston Roundup: Nuance, Twitter, Carbonite, NuoDB, Adelphic”
Top 20 Under-the-Radar Trends in Innovation
What’s the most important trend in innovation that nobody is talking about? We at Xconomy reached out across our national network of innovation leaders (the Xconomists) to get some answers to this question, and to spur some intercity discussion. What we got back was astounding for its diversity and depth. And while it’s no longer … Continue reading “Top 20 Under-the-Radar Trends in Innovation”
At a Startup, Does Being the Only Woman in the Room Matter?
It’s hardly a secret that the male-dominated world of high-growth entrepreneurship doesn’t boast a treasure trove of women. Despite the fact that female-led start-ups have a track record of driving success, businesses founded by women account for less than 9 percent of venture funding. Considering that 50 percent of the people walking the earth are … Continue reading “At a Startup, Does Being the Only Woman in the Room Matter?”
Passport Systems Secures $20,859,556 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b2a522c0-8b06-46cf-9670-9166d99b4b6c&Preview=1 Date 5/30/2013 Company Name Passport Systems Mailing Address 70 Treble Cove Road 1st Floor Billerica, MA 01862 Company Description Passport was founded in December 2002 with the express purpose of commercializing NRF technology to solve one of the world’s most pressing security problems, the non-intrusive inspection of cargo containers. Website http://www.passportsystems.com … Continue reading “Passport Systems Secures $20,859,556 New Funding Round”
Skyhook CEO Jeff Glass on Growth, Google, & the Glitz of Indoor Location
As an entrepreneur and a venture capitalist, Jeff Glass has seen his share of challenging companies. Now he faces perhaps his greatest task, as he leads Boston mobile-tech stalwart Skyhook through the perilous world of location technology. Back in December, Glass took the reins from longtime Skyhook CEO Ted Morgan, the company’s co-founder (who remains … Continue reading “Skyhook CEO Jeff Glass on Growth, Google, & the Glitz of Indoor Location”
Eleven’s Hybrid Approach Takes Shape With ThromboGenics Pact
Eleven Biotherapeutics wants to churn out a promising pipeline of treatments for eye diseases such as dry eye and allergic conjunctivitis that it can see all the way through to the marketplace. But Tuesday it proved that it can use its method for designing and creating protein drugs to earn some cash through partnerships as … Continue reading “Eleven’s Hybrid Approach Takes Shape With ThromboGenics Pact”
Assigning Credit and Blame to Biopharma R&D Chiefs
There’s been an awful lot of turnover lately among Big Biopharma R&D chiefs, with departures from Merck, Amgen, Bristol-Myers Squibb, AstraZeneca, Roche, and AbbVie. Their average tenure in this position was less than 7 years; the range was from less than 2 to 12. That’s similar to the average CEO tenure, which is only 8.4 … Continue reading “Assigning Credit and Blame to Biopharma R&D Chiefs”
NVCA: Venture Capital Finally Returned More Than It Took in 2012
It’s no secret that venture capital has struggled since the dot-com implosion. The latest dispatch from the industry’s U.S. trade group, however, says there might be some promising signs of better performance. In a new report wrapping up the 2012 performance for VCs, the National Venture Capital Association says the broad industry finally returned to the … Continue reading “NVCA: Venture Capital Finally Returned More Than It Took in 2012”
Applying “Innovation Arbitrage” to Develop Novel Medicines in China
[Editor’s Note: This post was co-authored by Jessica Yingling of Little Dog Communications.] Loosely defined, arbitrage is striking a combination of matching deals that capitalize upon an imbalance. Profit is gained from the difference between the market prices. With the Chinese government focusing on innovation through forward-looking national agendas for economic development, the opportunity to … Continue reading “Applying “Innovation Arbitrage” to Develop Novel Medicines in China”
Redstar Building “New Retail Channel” Startup Led by Former Krush CEO
Sounds like it’s business as usual at Redstar this summer. So look out, startup world. Redstar, based in Cambridge, MA, has always been a little different. It’s not an incubator. It’s not a venture firm. It calls itself a venture “foundry” (though I’m not sure that label will stick). The 20-person company got started in … Continue reading “Redstar Building “New Retail Channel” Startup Led by Former Krush CEO”