Two early SnipSnap investors caught in GSI insider trading scandal [Roundup] - Technical.ly Philly

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May 30, 2014 8:30 am

Two early SnipSnap investors caught in GSI insider trading scandal [Roundup]

In this week's Startup Roundup, more background on an SEC investigation into Chris Saridakis, a local tech executive and angel investor, plus in other news, Edison Ventures get a 3x return and Biomeme finds a N3rd Street office

WHO’S GETTING FUNDED?

SeventySix Capital, Wayne Kimmel‘s investment firm based at Center City coworking space Benjamin’s Desk, led a $10 million round for New York-based online sports platform The Whistle, the Philadelphia Inquirer reported.

AltEquity, an investment firm who plans to “[manage] a single, profitable, and privately-held middle-market business in the United States,” raised $390,000, according to an SEC filing. AltEquity is based in Callowhill coworking space Venturef0rth.

Edison Ventures, the Lawrenceville, N.J.-based venture firm, led a $5 million round in Washington, D.C.-based online fundraising company Salsa Labs, according to a release. Edison Ventures also got a 3x return from the sale of Columbus, Ohio-based call center software company Uptivity. It was purchased by Salt Lake City-based call center software company inContact. Read more on the Columbus Business Journal.

The two former Philly tech execs – former eBay Enterprise CEO Chris Saridakis and former PointRoll founder Jules Gardnerinvolved in an insider trading scandal were also early investors in mobile couponing company SnipSnap. SnipSnap CEO Ted Mann did not respond to requests for comment on the impact of the insider trading cases. Saridakis plead guilty to the charges in the criminal case last month. Gardner, who cooperated with the feds, was only charged in the civil case. Gardner and Saridakis were both involved in some of the region’s biggest tech business acquisitions since 2000.

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WHO’S MAKING MOVES?

Biomeme, the mobile DNA test based at NextFab Studio, has found an office in Old City, the Inquirer reported. Two other NextFab companies – Love Park Robotics and Infinite Invention – will likely outgrow the space, too, said NextFab founder Evan Malone.

Zuppler, a Conshohocken online ordering platform, partnered with Boston-based LevelUp to launch mobile apps for mobile payment and ordering, according to a release. Two restaurants, Boston-based Boloco and Chicago-based Protein Bar, have launched with the apps.

Medical education review app Osmosis is considering expanding to the pre-med and K-12 market. They launched landing pages for the two markets and have received more than 1,000 signups so far.

Visual analytics firm Curalate was one of seven tech companies chosen to get access to Pinterest’s Business Insights API, “which provides deeper and more automated access to Pinterest data,” according to this Curalate blog post.

Corey Latislaw has left software firm DmgCtrl and is now pursuing her own startup, Bushel, that aims to help people make the most out of their CSA (community supported agriculture) farm shares. She’s working with financial advisor Archna Sahay on the startup, and the pair won third place at April’s HackFit hackathon. Latislaw is also leaving Philly for a month. Here’s what she told us via email:

Saturday morning I set off for Mexico. I’ll be in rural village for 3 weeks to open/maintain computer labs and teach children how to use the computers through Kids On Computers (I’m on the board). Then I head to San Francisco for the Google I/O and the Google Developers Group (GDG) conferences. Finally, I’ll be speaking at the Dutch Mobile Conference in Amsterdam. I’ll be back in July.”

Meanwhile, Latislaw’s husband, developer Jason Cox, is now the CTO of Milkcrate, the app that wants to be Yelp for sustainable businesses, though it’s not a full-time role. Latislaw and Cox also run a consulting company called Green Life Software Development.

Sunglasses swag company Glass U is going to be the sunglasses provider for the World Cup, Metro reported. The Penn startup made the front page of Metro the day the story run.

Check out the curriculum for PhillyDevCamp, the summer developer bootcamp for graduating high schoolers and recent college grads.

WHO’S GETTING BUZZ?

American Certified, the new ecommerce site for American-made goods, was featured on Newsworks.

Sustainable laundry service Wash Cycle Laundry‘s expansion to Washington, D.C. was featured on NPR. Wash Cycle also received a $10,000 grant from the Philadelphia-based Merchants Fund earlier this year, the Inquirer reported. The grant helped the company get electric-assist cargo tricycles and to open another plant. The company has raised funding from angel groups like Investors’ Circle and Robin Hood Ventures, but it has also found non-traditional forms of funding like the Merchants Fund grant and foundation funding.

Look inside Britt Miller‘s Callowhill apartment in this Philly.com feature. She’s the director of special projects at Conshohocken ecommerce optimization firm Monetate.

Check out these tips for recruiting at a hackathon on Entrepreneur.com. Cloudmine CEO Brendan McCorkle and Point.io senior architect and evangelist Angel Rivera are quoted in it.

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