Posts Tagged ‘NC’
Monday, May 13th, 2013
 Vienna, VA-based Grotech Ventures, which invests in early stage tech firms, has raised a new $225 million fund. The fund was oversubscribed by more than 10 percent, and was raised from both existing and new investors. GV II bringsGrotech’s total capital under management to $1.3B across all funds.
Frank Adams, the firm’s managing general partner, told PE Hub that raising the fund took 20 months because institutional investors were “slow and methodical in their due diligence process, more so than in the 29 years we’ve been doing this.”
Grotech Partner Don Rainey tells the TechJournal that the company is investing in Mid-Atlantic and Mid-West early stage IT firms in Enterprise and infrastructure software, social and cloud computing, security tech, consumer Internet, ecommerce, and energy and healthcare It.
Includes Charlotte, Atlanta, RTP
For Grotech, Mid-Atlantic includes the Carolinas and Atlanta, Rainey notes. Adams told PE Hub the company is spending a good deal of time in Atlanta and Charlotte, NC, for instance, developing deep relationships.
Rainey says that while parts of the social sector are crowded and the opportunity has passed, “There is still a lot of greenfield in it.”
Grotech typically invests the first institutional money a startup raises and continues to invest as the firm grows. Its strategy includes forming top-tier industry syndicates with other investors. It generally invests from $200,000 to $20 million in startups, although initial investments tend to be smaller.
Grotech, which has offices in Virginia, Maryland and Colorado, has already made 12 investmetns from the new fund and continues to invest from its current fund, which has performed well.
We asked Rainey if its harder for tech startups to get that first investment these days.
 Don Rainey “For top tier entrepreneurs its about the same,” he says. “For the next tier that isn’t as obvious as a backable startup, it’s tougher. If you’re the guy or gal who sold your last company for $500 million and you’re doing another raise for a new company, you can expect the processs to be about the same as it was two, five, or ten years ago.”
Successful exits
It recently secured a major exit with NexGen Storage, which Fusion-lo Inc. acquired in April for about $119 million in cash and stock.
It’s largest exit so far was from the DC-based daily deals site LivingSocial. It led the company’s $5 million Series A round and has since sold chunks of its stake to Amazon, Lightspeed Venture Partners, T. Rowe Price and other buyers for more than $200 million.
Overall, Grotech’s last $109 million fund, which closed in 2009, has a current IRR of 70 percent. — Allan Maurer
Tags: Atlanta, Charlotte, Colorado, DC, Don Rainey, Frank Adams, Grotech, LIvingSocial, Maryland, NC, new fund, NexGen Storage
Posted in entrepreneurship, Internet/New Media, IT, Money, venture capital report | No Comments »
Tuesday, May 7th, 2013
 For the ninth year in a row, CEOs rate Texas as the #1 state in which to do business, according to Chief Executive magazine’s annual Best & Worst States Survey, released today. Florida, North Carolina, Tennessee and Indiana also made the top five.
The results may alleviate some fears in North Carolina, where other such evaluations have not placed the state as high as in previous years.
The states rated worst for business are California, New York, Illinois, Massachusetts and New Jersey.
It’s interesting that states with powerhouse venture capital sources and nation-leading business sectors such as California, Massachusetts, and New York top the list of worst states for business in these polls time after time. Makes you wonder just what these business-friendly state rankings really mean.
| Best 5 States for Business |
Rank 2013 |
| Texas |
1st |
| Florida |
2nd |
| North Carolina |
3rd |
| Tennessee |
4th |
| Indiana |
5th |
| Worst 5 States for Business |
Rank 2013 |
| California |
50th |
| New York |
49th |
| Illinois |
48th |
| Massachusetts |
47th |
| New Jersey |
46th |
The Best & Worst States Survey measures the sentiments of CEOs on a range of issues, including regulations, tax policies, workforce quality, educational resources, quality of living and infrastructure. For the 2013 survey, 736 CEOs from across the country evaluated the states between Jan. 16 and Feb. 14, 2013.
Ohio was the biggest gainer in this year’s survey, rising 13 spots from #35 to #22. “Ohio is doing some amazing things to attract and support a pro-business environment,” said Don Taylor , CEO of Fairlawn, Ohio-based Welty Building Company. The biggest loser was Delaware, which dropped 13 spots to #27.
California hostile to business?
CEOs say California’s poor ranking is the result of a perceived hostility to business, high state taxes and onerous regulations, all of which drive investment, companies and jobs to other states. According to the California Manufacturers & Technology Association,California accounts for 12.6% of total U.S. GDP, but only has a 2.2% share of investments in new and expanding manufacturing sites.
“When you investigate acquiring businesses in some of the states rated poorly for business conditions, the anecdotes all wind up being true,” said Kevin Hawkesworth , President & CEO of Florida-based Shaw Development. “The horror stories about these states are real.”
“California, Illinois and New York are simply awful states to operate facilities or employ people,” according to another CEO. “We will do almost anything possible to minimize our exposure to these anti-business environments.”
Piles of regulations a problem
“Thank you, California!” responded one Texas-based CEO facetiously. “Keep applying pressure on your job creators and we will keep welcoming their moves to Texas.”
A common theme among CEOs is the burden of constantly changing regulations. “Business is too hard without dealing with piles of regulations that are constantly changing,” said Rick Waechter , CEO of Boston Magazine. “I believe there have to be controls, but keep them simple and straightforward—and most importantly, don’t make it a moving target.”
“CEOs continue to tell us that California seems to be doing everything possible to drive business from the state. Texas Governor Rick Perry , by contrast, personally makes it his mission to lead corporate recruitment and economic development efforts in his state,” saidJ.P. Donlon , Editor-in-Chief of Chief Executive magazine and ChiefExecutive.net.
Playbook for success
“The playbook for successful states boils down to three simple moves: engage in real dialogue with business leaders, adapt policies to create an attractive environment, and effectively communicate your story to real job creators,” said Marshall Cooper , CEO of Chief Executive magazine and ChiefExecutive.net. “This year’s rankings prove that smart policies result in increased investments, jobs and greater overall economic activity.”
| 2013 Biggest Gainers |
Positions Gained |
| Ohio |
+13 |
| Minnesota |
+6 |
| Alabama |
+5 |
| Arizona |
+4 |
| Kansas |
+4 |
| 2013 Biggest Losers |
Positions Lost |
| Delaware |
-13 |
| Mississippi |
-8 |
| Missouri |
-7 |
| Kentucky |
-4 |
| Wyoming |
-4 |
For complete results, including individual state rankings on multiple criteria, CEO comments, methodology and more, please visitChiefExecutive.net.
Tags: best, business, California, Chief Executive, Florida, Illinois, Indiana, M&A, NC, NJ, NY., ranking, states, Tennessee, Texas, worst
Posted in Alabama, Carolinas, Economy/Jobs, Kentucky, North Carolina, Tennessee | No Comments »
Monday, May 6th, 2013
 Charlotte, NC. The Business Innovation & Growth Council (BIG) has released results of its second annual Entrepreneurial Growth Index, a measure of the health of the Charlotte-region’s entrepreneurial companies.
Terry Cox, president and CEO of BIG says, “It is especially notable that we had 28% more companies respond to the survey in 2013 than 2012, while nationally the number of entrepreneurial startups has dropped slightly two years in a row.”
David Jones, CEO of managed hosting and cloud services provider Peak 10, and a leadership advisor to BIG noted the increased revenue reported by companies in 2013.
“The companies responding to this year’s survey have revenue just under one billion dollars and an average growth rate of 37% over the last 3 year,” Jones says.
“The survey indicates that entrepreneurial companies will add another 928 jobs to the local economy in 2013. That is an impressive message as we consider today’s economic environment.”
Key findings of the 2013 study show:
- 120 companies responded, compared to 94 in 2012
- Projected revenue for 2013 is $960 million, an 18% increase over 2012 revenue of $817 million and a 3-year average growth rate of 37%.
- A 24% 3-year average growth rate in employment (full time, part time, and contract) with projected 928 in headcount for 2013, of which 42% are contractors.
- Average headcount of 49 per company, with an average weighted salary of $54,000, as compared to an average of 30 per company and average salary of $55,000 reported in the 2012 survey.
- Funding sources for businesses surveyed were:
- 2% Grants
- 5% Venture Capital
- 5% Private Equity
- 13% Bank Financing
- 19% Angel Investment
- 56% Self Funded
- Twenty percent (20%) of the companies participating were founded in the past two years and fifty two percent (52%) of the companies are less than five years old.
- 84% of the companies are located in Charlotte, while 16% are in the outlying cities/towns.
- 47% of those surveyed are in technology, 11% business services, 8% technology based education, 7% healthcare, 5% retail, 5% marketing, 4% transportation and distribution, and 14% in various other industries.
BIG continues to track data from entrepreneurial companies as a measure of the health of the local start-up economy. “The Charlotte region continues to grow through the contributions of our high growth entrepreneurial community,” Jones notes. “An important part of the region’s economic future is to continue to develop the supporting infrastructure that enables entrepreneurial companies to grow.”
Tags: BIG, Charlotte, David Jones, employment, entrepreneurail companies, growth, NC, Terry Cox
Posted in Economy/Jobs, entrepreneurship, Studies, surveys, reports | No Comments »
Thursday, April 4th, 2013
How do Enterprises make decisions about where to locate their data centers and what drives their growing need for them?
 Facebook’s air-cooled data center in Forest City, NC. A new study of the data center industry commissioned by Compass Datacenters has identified a number of emerging factors that are shaping the data center strategies of enterprise companies in the United States.
The study also projects a strong wave of new data center construction in 2013 and 2014. The research was conducted by the respected research firm Campos Research, which surveyed senior decision makers who steer the data center strategies at 150 U.S. companies with annual revenues of $250 million or more.
Key findings from the study include the following:
- 87% of companies will build a data center in next 12-24 months. This represents an acceleration of the trend, with 63% reporting that they completed data center projects in the last 12 months.
- 71% of companies ranked new applications as the primary reason for needing expanded data center infrastructure—making it the most often-cited driver for data center expansions in 2013 and 2014.
- Three-quarters of companies reported that they plan to support a combination of new applications, virtualization, Big Data, and Private Cloud with their new data centers—showing a variety of needs behind the expansions.
- 97% of companies are seeking to locate their new data centers less than 30 miles from their headquarters or major operations center—making geographic proximity a chief consideration in upcoming data center projects.
 Here at the TechJournal, we’ve noted that data center construction barely stalled even during the deepest part of the recession. In North Carolina, where we are headquartered, both Google and Facebook have built data centers and regional data center firms such as Peak 10 have steadily expanded their footprint.
 The Compass data center in Raleigh, NC. The company is also constructing a data center in Durham, NC. Other regional data center firms such as Peak 10, have also expanded their footprint substantially in the last few years. Chris Crosby , CEO of Compass Datacenters, said, ”Our team has worked with Campos for several years, and they have an uncanny ability to identify emerging trends before they reach critical mass and transform the data center industry.
“Their past research was prescient in identifying energy efficiency, wholesale data centers and modular design as important emerging issues well before they gathered steam and were broadly acknowledged as major trends. This new study identifies geographic proximity as a key consideration for the projects that companies are currently planning, and that has the potential to change the landscape of the data center industry, both figuratively and literally.”
He added, “In the past, companies based outside of major data center markets had to sacrifice proximity when it came to the location of their data centers. They had little choice but to put their data center in one of the handful of markets, often placing those IT assets far from the companies’ HQ or major operations center.
“Not only did that increase costs and risk, but it also was inherently inefficient from a long-term operations perspective. This new study makes it clear that enterprises don’t want to make that compromise any more, and that has huge ramifications for data center providers.”
Following are additional findings from the study:
- Companies who are planning to build in the next 12 months are planning to add an average of 2 facilities. That average increases to 3.5 when the timeframe is expanded to 24 months.
- The companies who participated in the study currently have an average of 3 data centers. 25% reported that they currently have 5 or more data centers.
- 96% of companies reported that the size of their data centers will be 20,000 square feet or less.
- CIOs were identified as the primary executive who determines need for data center expansion. CIOs were cited by 37% of companies as the person who approves the project, with 24% reporting that the final decision is made by the CEO. 44% of companies described CIOs as having the most influence on the purchasing decision with 19% saying that the CEO now has the greatest influence.
- The most common process for beginning a project is to set the requirements and then look for providers as a second step in the process (71% of respondents).
- The most important factors cited in the selection process for a provider is Service Level. Green strategy was the lowest-ranked selection factor.
- 75% of companies will evaluate 3 providers as part of their selection process.
- Only 44% of companies said that they would consider building the data center themselves, indicating that “do-it-yourself” is declining.
For more findings from this study and analysis from Compass Datacenters, visit http://www.compassdatacenters.com/compass-university/.
Tags: big data, Compass Datacenters, data center, Durham, Enterprise decisions, facebook, geographic proximity, Google, NC, new applications, Peak 10, private cloud, Raleigh, virtualization
Posted in Cloud, IT, North Carolina, Studies, surveys, reports | No Comments »
Monday, March 4th, 2013
By Allan Maurer
 David Jones, President & CEO, Peak 10. Even though Peak 10, the Charlotte-based data center and managed services provider now has 350 employees, CEO David Jones says the company still tries to foster an entrepreneurial spirit.
“We don’t make all our decisions centrally,” says Jones.
Jones co-founded Peak 10 in March of 2000 and has led the company to a top market position as a leading independent data center, managed services, and cloud computing solutions provider in the United States, with facilities in Charlotte, Atlanta, Jacksonville, Cincinnati, Louisville, Nashville, Tampa, South Florida, Raleigh, and Richmond.
Participating in the Southeast Venture Conference
Jones, who speaks often to entrepreneurial groups and is a past chair and still a director of the North Carolina Technology Association, is one of dozens of thought-leaders, venture capitalists, angel investors and entrepreneurs participating in the Southeast Venture Conference in Charlotte, NC, March 13-14.
“I think it’s going to be a great event for Charlotte,” Jones says. “It has an informative agenda, not the same old stuff you usually see at conferences. It’s going to bring a lot of faces into Charlotte who don’t normally spend time here.”
 The Southeast Venture Conference is headed to Charlotte, NC, in March 2013. The event offers firms a chance to present to top national venture capitalists and angel investors. Specifically, that includes speakers and panelists from national and regional venture capital firms and 50 innovative presenting companies from the Southeast and Mid-Atlantic regions. Last we heard, there were only a handful of seats left for the event, so it’s a good idea to reserve yours now if you plan on attending.
Part of the Peak 10 entrepreneurial culture derives from its growing an average of about 25 percent a year and regularly opening new facilities to meet demand in the areas it serves.
Four pieces of advice for entrepreneurs
We asked Jones what advice he thinks is most important to starting a company.
First, he says, “Stay focused. We’ve all heard stories of companies that try to do too many things at once and don’t do any of them well.”
But even more important, he says, “Hire the best people you can. Don’t be complacent about that.” In the end, “That will make you successful or not.”
Get the right financial leadership
Next, he says, “Make sure you have the right financial leadership. A lot of startups fly by the seat of their pants. You need to know your operating costs. I’ve always tried to find the best financial officer I could. If nothing else, have a financial advisor who can help you strategize where you are and the things you’ll need.”
Doing that can prevent you from “Hitting a brick wall when you find you didn’t plan for what you need on the development side.”
Finally, he adds, “Make sure you have a plan that can get funded. Great ideas go nowhere unless you have a plan to get there. Keep it simple. The more complex you make it, the harder it will be to get to where you want to be.”
In general, Jones says, “We’re in challenging times, but there are still a lot of opportunities out there.”
Tags: Allan Maurer, Charlotte, data centers, David Jones, entrepreneurial advice, NC, Peak 10, SEVC, Southeast Venture Conference 2013, tips
Posted in Best Practices, Carolinas, entrepreneurship, Events, Florida, Georgia, Maryland, North Carolina, Other SE, Startups, Tennessee, Virginia, Washington, DC | No Comments »
Thursday, February 28th, 2013
 You can make connections with 50 high growth technology companies from the Southeast and Mid-Atlantic as they present to hundreds of executives from the region’s innovation, entrepreneurial and venture communities at the Southeast Venture Conference March 13-14th at the Ritz-Carlton Charlotte, North Carolina.
In addition to presenting companies and hours of executive networking – the conference will feature a speaker line up inlcuding SAP CEO Bill McDermott, dozens of leading venture capital investors from groups like Advanced Technology Ventures, Intel Capital and Edison Ventures; industry insiders like Forbes publisher Rich Karlgaard and policy makers such as North Carolina Governor Pat McCrory.
This year’s confirmed presenting company line-up includes:
- addshoppers - Charlotte, NC
- AirSage - Atlanta, GA
- avidxchange - Charlotte, NC
- Badgy - Atlanta, GA
- blue nano - Charlotte, NC
- BoomTown - Charleston, SC
- BrightContext - Arlington, VA
- Bronto - Charlotte, NC
- Buystand - Durham, NC
- Campaign.io - Charlotte, NC
- CanDiag - Waxhaw, NC
- Clearleap - Duluth, GA
- dealcloud - Charlotte, NC
- deja mi - Raleigh, NC
- Digitalsmiths - Durham, NC
- Distil - Arlington, VA
- Entigral - Raleigh, NC
- Fitsistant - Durham, NC
- flomio - Miami, Florida
- Fotopigeon - Tampa, Florida
- Freebeepay - Atlanta, GA
- gematouch - Raleigh, NC
- Hinge - Washington, DC
- HireIQ - Atlanta, GA
- infina connect - Cary, NC
- Koupon Media - Frisco, TX
- nContact - Morrisville, NC
- Nextinput - Atlanta, GA
- PatientPay - Durham, NC
- PopUp - Raleigh, NC
- Punch Technologies - Charlotte, NC
- Respirion - Winston Salem, NC
- ReverbNation - Durham, NC
- Savveo - Charlotte, NC
- Sensory Analytics - Greensboro, NC
- Smart Sky Networks - Charlotte, NC
- Sweet Relish - Charlotte, NC
- t1 visions - Charlotte, NC
- Tales2Go - Washington, DC
- The Targeted Group - Charlotte, NC
- umatch - Greenville, NC
- Valencell - Raleigh, NC
- veenome - Arlington, VA
- viddlz - Charlotte, NC
- WealthEngine - Bethesda, MD
- Wildfire Connections - Charlotte, NC
- Worthpoint - Atlanta, GA
The Southeast Venture Conference is headed to Charlotte, NC, in March 2013. The event offers firms a chance to present to top national venture capitalists and angel investors. In addition to the showcase presenters and hours of networking – SEVC 2013 will feature current market relevant panel and presentation topics for investors and executive entrepreneurs. These events sell out, so register now if you plan on going.
Panel & Presentation topics include:
- State of Venture Capital
- Early Stage Fundraising
- Value Creation: Company/Investor Relationship
- Growth Stage Funding
- M&A Outlook and Strategies
- LP Viewpoint
- SaaS Investment Trends
- Getting to Market
- IPO & Secondary Market Outlook
- Entrepreneur’s Roundtable
- International Health Care Trends
Tags: 2013, Arlington, Atlanta, Bethesda, Charlotte, DC, Duluth, Durham, GA, Greensboro, Greenville, high growth companies, March, MD, Miami, NC, Raleigh, SEVC, venture capital, Washington
Posted in entrepreneurship, Events, Startups, Tech life/Culture | No Comments »
Thursday, February 21st, 2013
 William McDonough, winner of two U.S. Presidential awards for environmental sustainability, is teaming with Cherokee to support environmental startups through the Cherokee-McDonough Challenge.
Based in North Carolina’s Research Triangle, the Challenge is designed to identify, fund and develop high impact environmental startups.
Now accepting applications, the Challenge is sponsored by Cherokee, an investment fund manager and globally recognized leader in environmentally sustainable business practices.
McDonough, co-author of Cradle to Cradle: Remaking the Way We Make Things (2002) and The Upcycle: Beyond Sustainability — Designing for Abundance (2013), will partner with an advisory committee of experienced entrepreneurs and investors to counsel the Challenge entrepreneurs.
Challenge will invest in five startups
“The Cherokee-McDonough Challenge is important because it encourages and empowers solutions to the massive environmental challenges that face our world,” says McDonough.
Now entering its third year, the Challenge will again invest in three to five high impact environmental startups.
Each venture will receive:
- $20,000 in seed funding
- free office space for three months in Raleigh, NC, (a focal point in the renowned Research Triangle)
- complimentary back office support from Cherokee Investment Services, including help with incorporation, accounting and IRS compliance
- hands-on mentoring from an advisory committee of experienced entrepreneurs and investors
- an opportunity to present to other investors and the public
Cherokee-McDonough Challenge portfolio companies should finish the summer with a working prototype, a refined and vetted environmental strategy, a professional web presence, knowledge of intellectual property strategy and tactics, investor-ready fundraising documents, a stronger network of investors and mentors, a polished pitch and a runway towards a Series A capital raise.
For more information, visit www.cherokeechallenge.com or email JT Vaughn atjvaughn@cherokeefund.com or challenge@cherokeefund.com
Tags: Cherokee McDonough Challenge, environmental startups, NC, Research Triangle, seed funding, space
Posted in entrepreneurship, Events, Startups | No Comments »
Wednesday, February 20th, 2013
By Allan Maurer
 The mobile app economy is a big deal right now, with app developers commanding higher than average salaries and companies stumbling over each other to get on the mobile bandwagon. But, in five years, says Ron Shah, vice president at the Stripes Group venture firm, “many people will bypass apps altogether.”
By then, Shah says, “Just accessing the web on your phone will be so much better you won’t need 79 apps. Consumers will want to download apps less and less and just things on the open web.”
Also, he notes, “Two app stores now have a chokehold on user capabilities. That’s an unnatural place to be. Companies don’t want Apple or Google sitting between them and their customers.”
Shah is focused on sourcing and executing technology, software and internet investments as well as strategy and business development with portfolio companies at Stripes, which closed its current $350 million fund early in 2012.
Participating in the Southeast Venture Conference in March
Shah is actively involved with the firm’s investments in Kareo, Netbiscuits, eMarketer, Elance, MyWebGrocer, Art.com, Folica and Perimeter.
Prior to joining Stripes Group, Ron co-founded Endgame Capital, which focuses on land investment and development in the mid-Atlantic region.
 People networking at a previous Southeast Venture Conference. He’s one of more than two-dozen venture capitalists and investors participating in the upcoming Southeast Venture Conference in Charlotte, NC, March 13-14.
Shah will talk about the merger and acquisitions environment in areas where he has expertise at the event. “We’ve invested in several companies providing deep technologically integrated services in various industries,” he says.
He expects to see media companies, which made a round of acquisitions three or four years ago, to be looking to buy again. “They’re coming up on another cycle where they need to buy again to service their customers.”
Avoiding the Deathstar approach to software
He adds, “There’s a lot of pressure for those guys to figure out how to service existing relationships in a world that looks very different from ten years ago. They need to know what customers are consuming, how they consume and so on.”
 Another big trend he sees in M&A is in SaaS. “We’ve seen significant acquisitions of SaaS companies by the big guys – Oracle, IBM, SAP, Salesforce all bought several. They realize their clients are not in spending millions on the Deathstar approach to building software. People are coming from the bottom end and taking revenue from them, so they need to acquire to have cost effective offerings.”
He also notes that “In Enterprise technology, buyers have been aggressive with the evaluations they’ve been paying in core areas such as customer relationship and talent management and business intelligence.”
They can all be consolidated to some extent, he says. “We saw some of that in the marketing automation space. Then the larger players ended up getting bought: Buddy Media by Salesforce, Vitrue by Oracle.”
A process of consolidation
It’s a process, he explains. “Companies spring up in the venture space and rise to the forefront in a typical category. They buy smaller companies with innovative features. Then, if they’re playing in an interesting category, the big tech guys will buy them.”
Even after that big step in consolidation, three or four years later some of the big players realize they don’t have the right play in a category and “The cycle starts all over again,” says Shah.
 Next he says mobile device analytics is likely to see some consolidation. “A lot of the core tech companies feel the need to bolster their offerings,” Shah notes.
That interest is fanned by a couple of macro trends. “People are spending less time on print and more on the web, no one can deny that, and within that, they’re spending more time on mobile devices.”
The natural conclusion? “Ad dollars will slowly migrate there because that’s where the eyeballs are, on smartphones and tablets.”
Tags: Charlotte, CRM, digital media, IBM, M&A, mobile, NC, Oracle, Ron Shah, Salesforce, SEVC, Southeast Venture Conference, Stripes Group
Posted in Acquisitions, Events, Internet/New Media, Mobile, Telecommunications | No Comments »
Wednesday, February 20th, 2013
 Even in the IT field, you have to dress for success – especially when applying for a job. Chief Information Officers (CIOs) want to hire IT professionals who are “well suited” for the job — both literally and figuratively.
According to a new Robert Half Technology survey, nearly half (46 percent) of CIOs said a business suit is the most appropriate attire for someone interviewing for an IT position.
Thirty-four percent of respondents favored khakis and a collared shirt.
Geography can influence interview attire expectations, the survey revealed: Respondents in Philadelphia and Denver were among the cities with the most traditional tastes, with58 percent and 51 percent, respectively, citing business suits as the outfit of choice for IT job candidates.
CIOs in Raleigh, N.C., and San Francisco were less formal in their expectations, with only 36 percent and 37 percent, respectively, preferring formal interview attire.
The national survey was developed by Robert Half Technology, a leading provider of information technology professionals on a project and full-time basis, and conducted by an independent research firm. The survey is based on more than 2,300 telephone interviews with CIOs from a random sample of U.S. companies in 23 major metro areas with 100 or more employees.
CIOs were asked, “Which of the following, in your opinion, is the most appropriate interview attire for someone interviewing for an IT job with your company?” Their responses:
| Formal business suit |
46% |
| Khakis and a collared shirt |
34% |
| Tailored separates (for example, a skirt and blouse) |
14% |
| Jeans and a polo shirt |
4% |
| Something else/don’t know |
2% |
|
100% |
“Even in casual IT departments, hiring managers want to know that a job candidate has made an effort to look polished and professional,” said John Reed , senior executive director of Robert Half Technology. “When in doubt, it’s better to err on the conservative side than risk appearing overly casual.”
Reed added that networking before the interview can help job candidates get a sense of how to dress when meeting with a hiring manager. “Candidates should consult an insider at the firm, a recruiter or an HR representative for information about the corporate culture and how people tend to dress.”
Robert Half Technology offers these additional interview attire tips:
- Choose something comfortable. You want to look as relaxed as possible, so avoid uncomfortable clothing. If you purchase new interview attire, wear it a few times to break it in before your meeting.
- Pay attention to details. Don’t overlook the less obvious aspects of your appearance, like your shoes, socks and accessories. Make sure your outfit is free of wrinkles and stains, your hair and nails are well groomed, and your shoes are polished.
- Don’t overdo it. Ultimately, you want your experience and skills to be the focus of the interview — not your outfit. Avoid any distracting clothing or jewelry, as well as excessive perfume, cologne or makeup.
- Turn off electronic “accessories.” Make sure any mobile device you have with you is off before the meeting.
- Dress the part for a video interview. Even if your interview is via webcam, you want to look the part. Make sure you dress appropriately from head to toe and the background is free of distractions.
Tags: appropriate dress, casual, CIOs, interviews, IT jobs, NC, Raleigh, Robert Half, San Francisco, suit
Posted in Carolinas, North Carolina, Studies, surveys, reports, TechJobs | No Comments »
Tuesday, February 19th, 2013
 Which venture capital firms had the most private tech company exits in 2012? PrivCo has just released rankings of the Top 20 Venture Capital firms, based on the number of exits their portfolio companies made last year.
Santa Clara-based Intel Capital tops the list. Ranked just behind it were Felicis Ventures (Ranked #2) & SV Angel (Ranked #3).
Mark Rostick, director of East Coast investments for Intel Capital is among the more than two-dozen venture capitalists and investors participating in the upcoming Southeast Venture Conference in Charlotte, NC, March 13-14. See our interview with Rostick.
The Top 20 Most Successful Tech Venture Capital Firms of 2012:
(Ranked By Number of Private Tech Company Exits)
1. Intel Capital
2. Felicis Ventures
3. SV Angel
4. Sequoia Capital
5. First Round Capital
6. Battery Ventures
7. Draper Fisher Jurvetson
8. Greylock Partners
9. Ignition Partners
10. Google Ventures
11. True Ventures
12. Benchmark Capital
13. Lerer Ventures
14. Menlo Ventures
15. Polaris Venture Partners
16. Accel Partners
17. Bain Capital Ventures
18. Redpoint Ventures
19. RRE Ventures
20. Focus Ventures
To access PrivCo’s 350 page 2012 Private Tech M&A Industry Report:
http://www.privco.com/products/2012-m-and-a-industry-overview-technology-sector-volume-I
Tags: CA, Charlotte, Intel, Mark Rostick, NC, Santa Clara, SEVC, Southeast Venture Conference, top venture firms, venture capital firms
Posted in Uncategorized | No Comments »
Monday, February 18th, 2013
By Allan Maurer
Don Rainey Does price really matter in a venture financing deal? Can “small ideas” still get funded?
Don Rainey, a former entrepreneur, says his 12-years “on the dark side” as a venture capitalist, have taught him a handful of lessons that still serve him daily, among them, answers to those questions and others.
Rainey, a general partner with Grotech Ventures since 2007, was named to the Washingtonian’s “Tech Titans” list in 2011, and currently serves on the boards of Grotech portfolio companies Clarabridge, GramercyOne, HelloWallet, LivingSocial, Personal, SnappCloud, and Zenoss. He’s one of more than two-dozen venture capitalists and other investors participating in the upcoming Southeast Venture Conference in Charlotte, NC, March 13-14.
Price doesn’t matter
On his blog, VC in DC, Rainy outlined ten of the lessons about entrepreneurship that still guide him.
That business about price, for instance. “Price doesn’t really matter,” he says. “If you invest in something htat fails, it’s immaterial. If it wins, you might hope you had bought it a little cheaper, but you’ll always wish for that. The question is, is it something you believe in? If a deal works out, the price was right at some level. Get in good deals, and forget about getting the last dollar in a negotiation for that good deal.”
He adds, “We’re judged by whether the companies we invest in succeed, not the price.” Also, he notes, “Sometimes you do everything right and sill lose. Macro events can put real pressures on a company. Just think if you had gone into something aimed at financial services in 2007. Some things are beyond your control.”
Don’t pursue small ideas
Big ideas and small ideas are equally difficult, he says. But a venture capital firm has to have some multiple return on the capital it invests and can’t support small ideas, Rainey says. On his blog, he writes, ”What’s the point in trying to change the neighborhood when you can change the world.”
You’re not a rock star
“I’m very suspect of the venture capitalist who wants to be in front of the parade,” Rainey says. “That’s the role of the entrepreneur. We’re enablers, not the primary actors.”
Add value outside of board meetings
Portfolio company board meetings are not the place where a VC adds real value to the firm’s investment. “Private conversations over coffee, lunch, or late at night is when you really can influence the CEO,” Rainey says.
Don’t Invest in People who don’t take advice
Some entrepreneurs have a world class talent for ignoring good advice, Rainey notes on his blog. “I’ve done this 12 years and only had one CEO who ignored my advice and failed. He made a point of it. It wasn’t personal, he ignored everyone’s good advice. A good CEO listens to everyone.”
Then, he’ll let you know he heard you, saying something like, “I concur on these four items from your suggestions. “That’s what the smart ones do,” Rainey says. “They assimilate all that advice and incorporate it into their own perspective.”
Never Panic
Starting and running a business is often fraught with extreme ups and downs, more than one entrepreneur has told us. One day you land a really big customer, the next everyone you talk to says “No.” An entrepreneur has to be able to ride that roller coaster. “One of the great assets of an entrepreneur is confidence,” Rainey says.
“It does ebb and flow. There are days when you’re driving to work thinking there is no way you could be more screwed than you are at that moment, but when you get to work, you find out you were wrong, there are ways it can be worse. It’s hard. People don’t always appreciate how challenging it can be to be able to swing above your weight in the face of weeks or months of bad news. But you have to keep on fighting, even with a strong headwind.”
Be nice to people, it pays well
“In a business like ours,” Rainey says, “You have to say ‘no’ to 99 of 100 people who come to you for money. If you’re not nice to people, even when you have to say ‘no,’ they remember. They also remember if you were nice about it. None of knows where we’ll be in five years or what we’ll be doing.”
Tags: Charlotte, DC, Don Rainey, entrepreneurs, Grotech, investing, lessons, NC, Southeast Venture Conference, the dark side, Washington
Posted in Carolinas, Events, North Carolina, Viewpoint, Washington, DC | No Comments »
Wednesday, February 13th, 2013
The Southeast Venture Conference has named the first round of companies selected to present at the upcoming conference scheduled for March 13-14th at the Ritz-Carlton in Charlotte, NC.
Over 50 of the Southeast and Mid-Atlantic’s most outstanding high-growth firms will present at SEVC 2013. Showcase companies will range from pre-IPO to earlier stage series-A.
These companies are the present and future of the region’s innovation economy, representing some of the most promising technologies from a diverse range of industries, including software, mobile, education, health, security and Internet among others.
The first round of announced presenting companies include:
- AirSage - Atlanta, GA
- Badgy - Atlanta, GA
- BoomTown - Charleston, SC
- BrightContext - Arlington, VA
- Buystand - Durham, NC
- CanDiag - Waxhaw, NC
- Clearleap - Duluth, GA
- deja mi - Raleigh, NC
- Digitalsmiths - Durham, NC
- Distil - Arlington, VA
- Entigral - Raleigh, NC
- Fitsistant - Durham, NC
- flomio - Miami, Florida
- Fotopigeon - Tampa, Florida
- Freebeepay - Atlanta, GA
- Hinge - Washington, DC
- HireIQ - Atlanta, GA
- KnowledgeTree - Raleigh, NC
- Koupon Media - Frisco, TX
- Mindgrub - Baltimore, MD
- nContact - Morrisville, NC
- PatientPay - Durham, NC
- PopUp - Raleigh, NC
- Respirion - Winston Salem, NC
- ReverbNation - Durham, NC
- Savveo - Charlotte, NC
- Sensory Analytics - Greensboro, NC
- Spanning Cloud Apps - Austin, TX
- Sweet Relish - Charlotte, NC
- Tales2Go - Washington, DC
- The Targeted Group - Charlotte, NC
- Valencell - Raleigh, NC
- WealthEngine - Bethesda, MD
Additional presenters will be announced in the coming weeks.
The Southeast Venture Conference is headed to Charlotte, NC, in March 2013. The event offers firms a chance to present to top national venture capitalists and angel investors. Showcase companies will present to a national audience of venture capitalists, private equity investors, angel investors and senior technology executives. Attendees will have additional opportunities to network and connect with these showcase companies throughout the conference.
Register today to guarantee your space. The event sells out.
Wait…there’s more
In addition to the showcase presenters and hours of networking – SEVC 2013 will feature current market relevant panel and presentation topics for investors and executive entrepreneurs.
Panel & Presentation topics include:
- State of Venture Capital
- Early Stage Fundraising
- Value Creation: Company/Investor Relationship
- Growth Stage Funding
- M&A Outlook and Strategies
- LP Viewpoint
- SaaS Investment Trends
- Getting to Market
- IPO & Secondary Market Outlook
- Entrepreneur’s Roundtable
- International Health Care Trends
Tags: 2013, Charlotte, first round, March, NC, presenting companies, Southeast Venture Conference
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Thursday, January 31st, 2013
 Even though this year’s flu virus is infecting people throughout the nation and New York and Boston even declared citywide health emergencies – you might not guess that Huntsville, Alabama is the city most concerned about it.
MaxPoint, a company that helps retailers and brands drive local in-store sales with its Digital Zip technology, announced its latest Interest Index, which reveals the cities most interested in flu-related remedies.
While that may or may not concern your company or your advertising clients specifically, MaxPoint notes that it is crucial for advertisers to dive deep into neighborhood and audience data when building campaigns.
For instance, New York and Boston did not even make the top ten list of cities most concerned about the flu this year.
By analyzing billions of in-store purchases and online data points, MaxPoint found that the 10 cities most interested in all things flu-related are the following:
1. Huntsville, AL
2. Knoxville, TN
3. Greensboro, NC
4. Greenville, SC
5. Des Moines, IA
6. Rochester, NY
7. Birmingham, AL
8. Boise, ID
9. Augusta, GA
10. Milwaukee, WI
nterest Data in Action
Using the data from this Interest Index, MaxPoint ran several digital advertising campaigns, including the following:
- A global pharmaceutical company with a diverse healthcare portfolio — including pharmaceuticals, eye care products and vaccines — wanted to drive adults over the age of 65 to select pharmacy locations to receive flu shots. Using MaxPoint’s hyperlocal advertising approach, the company achieved 164 percent lift in awareness of its flu vaccine at participating pharmacies.
- A manufacturer of analgesics wanted to increase brand awareness and drive sales of its products. By running digital ads with MaxPoint, the manufacturer achieved 3 percent sales lift in mass merchandise stores.
Tags: AL, August, Boston, flu, GA, Greensboro, Greenville, Huntsville, Knoxville, Marketing, MaxPoint, NC, New York, SC, TN
Posted in Alabama, Analytics, Carolinas, Georgia, Marketing, North Carolina, South Carolina, Studies, surveys, reports, Tennessee | No Comments »
Thursday, January 31st, 2013
Looking for a way to make lasting connections with hundreds of venture capitalists and entrepreneurs? Register before Friday (February 1) and you can still get the Early-Bird rate for the 7th Annual Southeast Venture Conference at the Ritz Carlton in Charlotte, NC, March 13-14.
You’ll hear from 50 of Southeast’s most innovative growth firms from 11 states and network with hundreds of private equity investors.
Top industry leaders will share insights on M&A, fund raising strategies, IPOs, valuations, hot investment secotrs, and early-stage trends.
Outstanding speakers
Speakers lined up for this year’s event include Bill McDermott, CEO of SAP; Bob Hower of Advanced Technology Ventures, Scott Maxwell of OpenView Venture Partners, Larry Bettino of StarVest Partners, Adrian Wilson of Square 1 Ventures, Sean Cantwell of Volition Capital, Brian Rich of Catalyst Investors, Roland Reynolds of Industry Ventures, Janet Yang of Novak Biddle Venture Partners, Mark Rostic of Intel Capital, Don Rainey of Grotech Ventures, Lenard Marcus of Edison Ventures, Trevor Kienzle of Correlation Ventures, David Jones, CEO of Peak 10; John Lawrence of Longworth Venture Partners, Matt Shapiro of Second Market,; Cater Griffin of Updata Partners, an Ron Shah of the Stripes Group, among others.
Tags: angel investors, apply to present, Charlotte, innovative tech firms, March, NC, SEVC, Southeast Venture Conference, Venture Capitalists
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Friday, January 18th, 2013
 If it seemed harder to raise money last year, it was. Venture capitalists invested less money in 2012 than in 2011, the first such decline in three years, according to the National Venture Capital Association (NVCA) and PricewaterhousCoopers MoneyTree report.
In the Research Triangle, NC, which has bustling startup hubs in Durham, Raleigh, and Cary, companies raised less money than in any year since 1997, despite something of a rebound in the second half of the year.
Analysts say economic uncertainty and volatility as well as Facebook’s less than stellar IPO performance contributed to the caution on the part of VCs.
Venture funds invested $26.5 billion in 3,698 deals in 2012, a 10 percent decline in dollars and 6 percent drop in the number of deals.
Mark Heesen, president of the NVCA, however, looked on the bright side, saying that fewer funds and deals will lead to “a more disciplined environment,” in which better companies will get funded and many “me-too” firms copying other successful companies will not.
The full set of statistics are on the NVCA web site.
Tags: 2012 venture funding, deals delcined, funding fell, Mark Heesen, MoneyTree, national, NC, NVCA, PriceWaterHouseCoopers, Research Triangle, VCs
Posted in Carolinas, North Carolina, venture capital report | No Comments »
Tuesday, January 8th, 2013
The Southeast Venture Conference is headed to Charlotte, NC, in March 2013. The event offers firms a chance to present to top national venture capitalists and angel investors. If you’re a high growth innovative company looking for funding, you still have a chance to present your business plan in front of top national venture capitalists and private equity professionals at the 2013 Southeast Venture Conference March 13th and 14th at the Ritz-Carlton in Charlotte, NC.
Applications to present at the event are still being accepted.
The event seeks high growth, innovative companies from diverse technology industries including Software-as-a-Service, New Media, Bio-IT, Clean-Tech, Medical Devices, Mobile, Security, among others.
You’ll meet hundreds of the region’s leading entrepreneurs and high growth company executives (from startups to pre-IPO), National Venture Capitalists and Private Equity Professionals, M&A facilitators and other leading professionals serving the high growth technology community.
SEVC highlights both early and later stage investment opportunities from: Alabama, Florida, Georgia, Kentucky, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, West Virginia and Washington DC.
Last year’s SEVC Average Presenter Profile:
- Average Annual Revenue: $5.9 million
- Average Capital Raised to Date: $6.7 million
- Average Number of Employees: 35
While the presenting companies are from the Southeast and Mid-Atlantic regions, the investors fly in from all parts of the country, including California, New York, and Massachusetts, as well as those that are regionally focused.
Exclusive panels, speakers, programming
The SEVC features market relevant investor and executive panels, exclusive networking opportunities, featured speakers and dozens of the region’s top private technology firms presenting to a national audience of venture capitalists, investment bankers and private equity investors.
As a TechMedia company and sponsor of the event, the TechJournal has reported on many firms that subsequently landed angel or venture backing. Venture capitalists tell us, they find new firms to put on their radar and track at each year’s event and many have returned year after year to spot hot Southeast opportunities.
SEVC is also an unparalleled networking event in which innovative firms meet potential partners, customers, and employees, in addition to making invaluable contacts within the venture and angel funding community.
Additional information on presenting and registration can be found at seventure.org andyou can view a list of past presenters here.
Tags: 2013, angel investors, Charlotte, financing, fund raising, March, NC, networking, pre-IPO, presenting companies sought, Southeast Venture Conference, Startups, Venture Capitalists
Posted in Alabama, Arkansas, Carolinas, entrepreneurship, Events, Florida, Georgia, Kentucky, Maryland, Money, North Carolina, Other SE, Potomac, South Carolina, Tennessee, Virginia, Washington, DC, West Virginia | No Comments »
Monday, January 7th, 2013
 Hatteras Venture Partners of Durham, NC, is the first licensee in the Early Stage Innovation Funds initiative, a part of the U.S. Small Business Administration’s (SBA) Small Business Investment Company (SBIC) capital investment program.
Hatteras Venture Partners (HVP), a venture capital firm based in Research Triangle Park, N.C., focuses on seed and early stage opportunities in biopharmaceuticals, medical devices, diagnostics, and related opportunities in human medicine.
HVP was selected because it demonstrated that it has a strong team with a clear, focused strategy and a track record investing in an undercapitalized region.
Promoting innovation and job creation
“The New Year is the perfect time to celebrate new businesses and win-win opportunities like the Early Stage Initiative,” said SBA Administrator Karen Mills.
“The Early Stage Innovation Funds initiative promotes American innovation and job creation by encouraging private sector investment in early stage small businesses. And by licensing funds like Hatteras Venture Partners IV, we can expand entrepreneurs’ access to capital at no cost to taxpayers.”
High-growth, early stage companies commonly experience a gap in the availability of funding between $1 million and $4 million levels.
The Valley of Death
This gap is often referred to in the venture capital industry as the “Valley of Death.” Since January 2006, less than 10 percent of all U.S. venture capital dollars went to seed funds investing at those levels, and approximately 70 percent of those dollars went to just three states: California, Massachusetts, and New York.
The Early Stage Innovation Funds initiative targets this gap by licensing and guaranteeing leverage to funds focused on early/seed stage investments. SBA’s improved licensing times under its SBIC debenture program complement the Early Stage Innovation Funds initiative.
SBA has committed up to $1 billion in SBA-guaranteed leverage over a five-year period for selected Early Stage Innovation Funds using its current SBIC program authorization. Licensed Early Stage Innovation
Funds can receive up to a maximum of $50 million in SBA-guaranteed funding to match their privately raised capital. Early Stage Innovation Funds must invest at least 50 percent of their investment dollars in early stage small businesses.
Tags: Durham, Early Stage Capital Initiative, Hatteras Venture Partners, NC, Research Triangle Park, SBA
Posted in Carolinas, Money, North Carolina | No Comments »
Wednesday, December 12th, 2012
 If you’re looking for that special restaurant in which to wine and dine a potential big ticket customer, woo a business partner, or just to have a great meal while at home or on the road, OpenTable (NASDAQ: OPEN), a provider of free, real-time online restaurant reservations for diners guest management solutions for restaurants, has named the 2012 Diners’ Choice Award winners for the Top 100 Best Restaurants in the United States.
These awards reflect the combined opinions of more than 5 million reviews submitted by verified OpenTable diners for more than 15,000 restaurants in all 50 states and the District of Columbia.
All restaurants with a minimum number of qualifying reviews were included for consideration.
Qualifying restaurants were then sorted according to a score calculated from each restaurant’s average rating in the “overall” category along with that restaurant’s rating relative to others in the same metropolitan area and the average number of restaurants reviewed by diners who reviewed that restaurant.
Based on this methodology, the following restaurants, listed in alphabetical order, comprise the Top 100 Best Restaurants in the U.S. according to OpenTable diners.
2012 Diners’ Choice Award Winners for the Top 100 Best Restaurants in the U.S.
Acquerello – San Francisco, California
Addison at The Grand Del Mar – San Diego, California
Altura – Seattle, Washington
Andrea at Pelican Hill – Newport Coast, California
Annisa – New York, New York
Artisanal Restaurant – Banner Elk, North Carolina
The Ashby Inn – Paris, Virginia
Atelier Crenn – San Francisco, California
Auberge du Soleil – Rutherford, California
Bacchanalia – Atlanta, Georgia
The Belvedere – Beverly Hills, California
Bibou – Philadelphia, Pennsylvania
Binkley’s Restaurant – Cave Creek, Arizona
Bistro L’Hermitage – Woodbridge, Virginia
Blue Hill at Stone Barns – Pocantico Hills, New York
Bouchard Restaurant and Inn – Newport, Rhode Island
Bouley – New York, New York
Café Provence – Prairie Village, Kansas
Café Renaissance – Vienna, Virginia
Canlis – Seattle, Washington
Capital Grille – Kansas City, Missouri
Capital Grille – Minneapolis, Minnesota
Carpe Vino – Auburn, California
Castle Hill Inn – Newport, Rhode Island
Chachama Grill – East Patchogue, New York
Chama Gaucha Brazilian Steakhouse – Downers Grove, Illinois
Charleston – Baltimore, Maryland
Charleston Grill – Charleston, South Carolina
Chez Francois – Vermilion, Ohio
Chez Nous French Restaurant – Humble, Texas
CityZen – Washington, D.C.
Commis – Oakland, California
Cottage Place Restaurant – Flagstaff, Arizona
Daniel – New York, New York
Daniel-Lounge Seating – New York, New York
Del Posto – New York, New York
Eleven Madison Park – New York, New York
Farmhouse Inn & Restaurant – Forestville, California
Fearrington House Restaurant – Pittsboro, North Carolina
Fountain Restaurant – Philadelphia, Pennsylvania
The French Laundry – Yountville, California
The French Room – Dallas, Texas
Geronimo – Santa Fe, New Mexico
The Goodstone Inn & Estate Restaurant – Middleburg, Virginia
Gracie’s – Providence, Rhode Island
Gramercy Tavern – New York, New York
Hannas Prime Steak – Rancho Santa Margarita, California
The Hobbit – Orange, California
Jean Georges – New York, New York
Joseph Tambellini – Pittsburgh, Pennsylvania
JUNGSIK – New York, New York
Kai – Sheraton Wild Horse Pass Resort – Chandler, Arizona
Keiko à Nob Hill – San Francisco, California
King Umberto – Elmont, New York
The Kitchen Restaurant – Sacramento, California
La Ciccia – San Francisco, California
La Folie – San Francisco, California
La Grenouille – New York, New York
L’Auberge Chez Francois – Great Falls, Virginia
Le Bernardin – New York, New York
Le Vallauris – Palm Springs, California
Le Yaca – Williamsburg, Virginia
L’Espalier – Boston, Massachusetts
The Loft at Montage Laguna Beach – Laguna Beach, California
Mama’s Fish House – Paia, Hawaii
Manresa – Los Gatos, California
Marcel’s – Washington, D.C.
Marinus-Bernadus Lodge – Carmel Valley, California
Menton – Boston, Massachusetts
Michael’s – South Point Casino – Las Vegas, Nevada
The Modern-Dining Room – New York, New York
n/naka – Los Angeles, California
NAOE – Miami, Florida
Nicholas – Red Bank, New Jersey
Norman’s at The Ritz-Carlton Orlando – Orlando, Florida
The North Fork Table & Inn – Southold, New York
o ya – Boston, Massachusetts
ON20 – Hartford, Connecticut
Orchids at Palm Court – Cincinnati, Ohio
The Painted Lady – Newberg, Oregon
Palace Arms at The Brown Palace – Denver, Colorado
Per Se – New York, New York
Perry Street Brasserie – Galena, Illinois
Providence – Los Angeles, California
Restaurant Alma – Minneapolis, Minnesota
Restaurant Iris – Memphis, Tennessee
Rover’s – Seattle, Washington
Rudy & Paco Restaurant & Bar – Galveston, Texas
Saint Jacques French Cuisine – Raleigh, North Carolina
Saison – San Francisco, California
Scalini Fedeli – New York, New York
ShinBay – Scottsdale, Arizona
Sonoma – Princeton, Massachusetts
Splendido – Beaver Creek, Colorado
Studio at Montage Laguna Beach – Laguna Beach, California
Tony’s – St. Louis, Missouri
Tosca Ristorante – Washington, D.C.
Vetri – Philadelphia, Pennsylvania
VOLT – Frederick, Maryland
Woodfire Grill – Atlanta, Georgia
Diners can also read more about the Diners’ Choice Awards for the Top 100 Best Restaurants in the U.S. by visiting OpenTable Chief Dining Officer Caroline Potter’s “Dining Check” blog.
Tags: California, DC, Hawaii, Ill, Issouri, Kansas, MD, MN, NC, Nevada, New Mexico, NJ, Ohio, Open Table, Oregon, PA, RI, SC, Texas, TN, top 100 U.S. restaurants, Washington
Posted in Uncategorized | No Comments »
Friday, December 7th, 2012
By Allan Maurer
 Joe Davy, CEO of Buystand, which lets buyers set a price for active lifestyle products they want to buy. Deals, deals, deals: discounts are the byword of online shopping these days, but usually, sellers are deciding how much the discounts should be. A Durham, NC-based startup, Buystand, wants to change that.
Buystand, says CEO Joe Davy, “Is the world’s first completely buyer-driven marketplace for active lifestyle clothing, equipment and footwear.” That includes everything from boots to mountain bikes and skis.
“Originally the brainchild of Ted Kraus and commercialized by Ted Kraus and Bill Brown at 8 Rivers Capital, which Davy says “works like an incubator for ideas, going through the patent process and funding them,” Buystand launched in beta about a month ago and already has hundreds of retailers, 250 brands, and thousands of customers signed up.
Davy, who joined the company after taking a course Brown, who is managing partner at 8 Rivers, taught at Duke University Law School, presented the company’s business plan at the Startup Summit that preceded this year’s Internet Summit in Raleigh, NC in November.
Innovative companies from early stage to pre-IPO looking for funding may want to apply to present at TechMedia’s next event, The Southeast Venture Conference in Charlotte, NC, in March. SEVC is now accepting applications.
Davy explains that at Buystand retailers let the buyer tell them what they want pay for certain products. That lets retailers see what their products are worth to buyers and lets brands see what they’re worth compared to their competitors’ products.
The retailer can decide at what price it wants to sell.
Control in the hands of buyers
“It puts control back into the hands of buyers,” says Davy. “There has never been a company before that let buyers come in and say what they’re willing to pay for a physical product, although it does happen in the hotel and travel markets. We’re inventing that model for products.”
Davy says this startup differs from many others – including the last one he ran – solve “What amounts to a big problem for a small number of people. They’re building a better widget or solving a very niche problem. What we’re doing appeals to a universal desire. It’s a much better way to shop, not just for a few people, for 90 percent.”
Customers already seem to like it. “People are using this multiple times a month. They’re not only happier when they pay the price they want to pay, but it translates into them spending substantially more money,” he says.
The firm has lots of room to grow. “It’s an $83 billion market,” Davy says. “And no one else is being innovative in the space right now. A lot of people are doing daily deal sites, but those crush brand equity and undermine the future sales of retailers.”
There are plenty of places to buy used products, he notes, including eBay and Craig’s List. “Buystand is for people who want a brand new product from retailer but don’t want to pay full price,” he says.
People have adopted it quickly, he adds. “We saw traction in just a few weeks,” Davy says.
Tags: 8 Rivers Capital, Bill Brown, Buystand, Charlotte, Durham, Internet Summit, Joe Davy, NC, Raleigh, Southeast Venture Conference, Startups, Ted Krouse
Posted in Company Profile, Events, Internet/New Media, Startups | No Comments »
Thursday, December 6th, 2012
 The Southeast Venture Conference is headed to Charlotte, NC, in March 2013. The event offers firms a chance to present to top national venture capitalists and angel investors. High growth innovative technology companies from young firms to the pre-IPO stage have an opportunity to present in front of top national venture capitalists and private equity professionals at the 2013 Southeast Venture Conference March 13th and 14th at the Ritz-Carlton in Charlotte, NC. Applications to present at the event are now being accepted.
The event seeks high growth, innovative companies from diverse technology industries including Software-as-a-Service, New Media, Bio-IT, Clean-Tech, Medical Devices, Mobile, Security, among others.
Hundreds of the region’s leading Entrepreneurs and High Growth Company Executives (from Startups to pre-IPO), National Venture Capitalists and Private Equity Professionals, M&A facilitators and other leading professionals serving the high growth technology community.
SEVC highlights both early and later stage investment opportunities from: Alabama, Florida, Georgia, Kentucky, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, West Virginia and Washington DC.
Last year’s SEVC Average Presenter Profile:
- Average Annual Revenue: $5.9 million
- Average Capital Raised to Date: $6.7 million
- Average Number of Employees: 35
While the presenting companies are from the Southeast and Mid-Atlantic regions, the investors fly in from all parts of the country, including California, New York, and Massachusetts, as well as those that are regionally focused.
Exclusive panels, speakers, programming
The SEVC features market relevant investor and executive panels, exclusive networking opportunities, featured speakers and dozens of the region’s top private technology firms presenting to a national audience of venture capitalists, investment bankers and private equity investors.
As a TechMedia company and sponsor of the event, the TechJournal has reported on many firms that subsequently landed angel or venture backing. Venture capitalists tell us, they find new firms to put on their radar and track at each year’s event and many have returned year after year to spot hot Southeast opportunities.
SEVC is also an unparalleled networking event in which innovative firms meet potential partners, customers, and employees, in addition to making invaluable contacts within the venture and angel funding community.
Additional information on presenting and registration can be found at seventure.org andyou can view a list of past presenters here.
Tags: angel investors, apply to present, Charlotte, innovative tech firms, March, NC, SEVC, Southeast Venture Conference, Venture Capitalists
Posted in Events, Money | No Comments »
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