Startup Roundup: Philly’s new $1 billion business, says veteran entrepreneur

Technically Philly’s Startup Roundup parses out the small pieces that make our greater Startup ecosystem thrive. We want to keep you in touch with the innovations that we can’t quite get to covering, but that deserve highlight. Follow along with a weekly email newsletter by clicking here and selecting the Startup Roundup button or follow Startup Roundup’s RSS feed. If you’ve got news to share, get in touch.
MUST READS
Following on an Inquirer report that GSI Commerce‘s Michael Rubin was set to launch a new startup, Kynetic L.L.C., it appears as if Kynetic will be the parent to those e-commerce spin-offs from the GSI/eBay deal earlier this year, including sites Rue La La and ShopRunner. Rubin is predicting that the company will make $1 billion in revenue in 2012.
The Philadelphia Business Journal reports that Ben Franklin Technology Partners and Philadelphia Industrial Development Corp. will each receive $1 million in federal grants to invest in startup companies $200k at a time.

GIVE A GLANCE
Healthcare payment system provider InstaMed has raised $5.5 million, says PhillyTechNews.
Entrepreneurs Forum will host an event about alliances and acquisitions on Sept. 20. with panelists that include Boomi CEO Bob Moul, Health Advocate CMO Marty Rosen and Fox Rothschild LLP attorney Eric Sumner.
Monetate has partnered with recommendation engine BayNote, which will integrate the latter with Monetate’s e-commerce testing and targeting solutions, according to a press release sent by email.
Document Depository Corporation has rebranded to DocDep, as seen on its new website.
MIGHT BE WORTH YOUR TIME
Local e-commerce provider WebLinc recently launched retailer Century 21’s new members-only online store.
Motorcycle maker Christini Technologies was awarded “Technological Excellence of the Year” by the Philadelphia Chamber of Commerce in its annual Excellence Awards Honoring the Region’s Small Businesses, according to a press release.
Startup Roundup will post weekly on Wednesdays until there’s not a Philly startup story left to link to on the Internet. See others here, or sign-up for its email newsletter.