Washington Technology Industry Association
Facts
- HQ
- Washington
- Sectors
- IT Services and IT Consulting
- Employees
- 116
FlowPlay buys out investors to become fully employee- and founder-owned after 50% revenue spike in 2020
Seattle social-game developer FlowPlay repurchased investor shares to become fully employee- and founder-owned after seeing revenue rise 50% during 2020; the 14-year-old company has 75 million registered users and plans a new title in 2021.
Seattle Mayor Jenny Durkan’s First Term Tried to Reconcile Tech Firms and Critics but Left Her Politically Isolated
Seattle Mayor Jenny Durkan tried to bridge tech companies and their critics during her first term by courting firms like Amazon, Expedia, and Apple, but her efforts pleased neither business leaders nor progressive activists, leaving her politically isolated and prompting her decision not to seek a second term.
Foursquare CEO David Shim to Resign; Gary Little Named CEO in 2021; Other Tech Leadership Moves Reported
Foursquare CEO David Shim, founder of Placed, is resigning and will be succeeded by board member Gary Little in 2021 after a transition; Shim plans to return to entrepreneurship. Other moves: investor Karan Mehandru left Trinity Ventures to join Steadfast Financial while remaining on several boards, 343 Industries’ Chris Lee stepped down from Halo Infinite project direction, and WTIA hired Molly Jones as VP of government affairs.
Seattle startup Nexme raises $500,000 seed round after toll-free call leads to angel investment
Seattle startup Nexme raised a $500,000 seed round after an unexpected toll-free call from real estate investor Mark Montgomery led to meetings and him becoming their first angel backer. Nexme, founded by Arian Abdulkader and Vanessa Alvarez, offers a lower-cost real estate marketplace charging sellers a 1.5% commission and connecting users with experienced licensed agents.
OwnTrail, founded by ex-Zillow exec Rebekah Bastian, raises $250K and operates from converted garage office
Seattle startup OwnTrail, founded by Rebekah Bastian, helps women map and share career and life paths and has grown to 1,000 registered users with 350+ profiles. The company raised $250,000, is crowdfunding an additional $20,000 (70% funded), and operates from a converted garage office with three full-time employees.
WTIA names 26 Washington startups for fourth Founder Cohort Program, a year-long accelerator for early-stage firms
WTIA selected 26 Washington-based tech startups for its fourth Founder Cohort Program, a year-long initiative that helps early-stage companies with fundraising, governance and customer development. Participating companies must be headquartered in Washington, have at least one product in development and under $1 million in annual revenue; examples include CardioCube, PetBiotix and VR Ulysses.
Seattle rises three spots to crack Startup Genome’s global top 10, backed by $3.59B in 2019 VC funding
Seattle climbed three places into Startup Genome’s global top 10 startup ecosystems, driven by strengths in AI, big data, analytics, life sciences and a strong startup genealogy from Microsoft, Amazon and the University of Washington. Venture funding reached a Seattle-area record of $3.59 billion in 2019, and the city ranks highly on performance, funding, market reach, talent, connectedness, knowledge and infrastructure.
Pro.com lays off 52 employees as COVID-19 halts construction; CEO Matt Williams confirms WARN filing
Seattle-based Pro.com laid off 52 employees after COVID-19 halted its construction work, and the company is resuming jobs with new safety and contact-tracing measures. CEO Matt Williams said the cuts were disclosed in a Washington WARN filing and affect a company that employs about 150 people on LinkedIn.
University of Washington-Bothell and iInnovate Network report: Seattle tech, health and life-sciences grew in 2019 but COVID-19 threatens startups
The fifth annual Seattle Tech Ecosystem Report from University of Washington-Bothell School of Business and iInnovate Network finds Seattle’s tech, health and life-sciences sectors continued growing in 2019, with STEM jobs, GDP and venture investment strength, but warns COVID-19 creates uncertain short- and long-term impacts on startups and hiring. The report highlights local resources and notes many startups face cash-runway pressures while major firms like Microsoft and Amazon may weather the crisis and gain share.
Survey: Over 50% of Seattle-area Startups Have Less Than Six Months Cash Runway; 23% Under Two Months
A Washington Technology Industry Association survey found more than half of Seattle-area startups have under six months of cash runway and 23% have under two months, with smaller firms faring worse and only 39% receiving PPP loans. About a quarter have cut at least 10% of staff, fewer than 25% have investor backstops, while some sectors like telemedicine and cloud computing continue hiring.
Glowforge and Lytics Turn Down ~$3.85M in Approved PPP Loans to Leave Aid for Smaller Businesses
Two venture-backed Pacific Northwest tech startups, Glowforge and Lytics, declined approved Paycheck Protection Program loans of about $1.85 million and $2 million respectively, choosing to leave funds for smaller businesses that lack access to capital after concluding they could avoid layoffs and survive the crisis.
Foursquare and Factual merge under Foursquare brand with David Shim named CEO; Sue Desmond-Hellmann joins Pfizer board
Foursquare and Factual are merging under the Foursquare brand with Placed founder David Shim as CEO; Sue Desmond-Hellmann joined Pfizer’s board after leaving the Gates Foundation, and other executive moves include Microsoft hiring Rubén Caballero and leadership change at Egencia.
Tech meets politics with WTIA CEO Michael Schutzler
Tech companies doesn’t always get along well with politicians — or with each other, for that matter. It’s Michael Schutzler’s job to be the go-between, bringing together a huge range of Washington tech companies and politicians to make sure the industry can thrive. We dive into issues like paid family medical leave, immigration and the state of Washington’s tech in this episode of the GeekWire podcast. Follow all our tech coverage at GeekWire.com Thank you to this week's sponsors: The University of Washington's Human Centered Design and Engineering department. Learn more: www.hcde.washington.edu; and Hughes Marino, the commercial real estate company…
People
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Michael Schutzler Executive, Former CEO, Former Chief Executive Officer, Former WTIA Leader
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Nick Ellingson Executive, VP, Innovation & Entrepreneurship
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Arry Yu Chair of the Advanced Technologies Cluster
