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Tech Startups Moving to NYC Out-Of-Town Broker Wave of Digital Companies from Across U.S

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Tech Startups Moving to NYC Out-Of-Town Broker Wave of Digital Companies from Across U.S 20120514-NEWS--0001-NAT-CCI-CN_-- 5/11/2012 7:30 PM Page 1 INSIDE Jamie Dimon’s TOP STORIES $2 billion ‘oops!’ Brooklyn Brewery In the taps new leaders Markets PAGE 2 ® Page 6 VOL. XXVIII, NO. 20 WWW.CRAINSNEWYORK.COM MAY 14-20, 2012 PRICE: $3.00 Tech startups moving to NYC Out-of-town broker Wave of digital companies from across U.S. speed with which we’re able to de- vate investors, and supported with hits a local wall velop products will be accelerated.” incubator labs and other shared PAGE 2 sees Big Apple as base for next-stage growth For decades, New York work spaces, some of them has been known as the sponsored by the city.There’s time to head for the big city. And town companies left when also proximity to hometown Pearson’s test flubs BY MATTHEW FLAMM $2.8B there wasn’t any question which one. they needed to expand and REVENUES for industries like media, adver- could cost it dearly “Our clients are in New York,” couldn’t afford the higher software firm tising, fashion and finance— It took three years and $1 million for said Alex White,chief executive and salaries and rent. But a re- Infor, which all going through digital dis- PAGE 4 moves its HQ the founders of Next Big Sound to co-founder of Next Big Sound, versal is taking place here in June ruptions—and a growing build their company out of an incu- which analyzes data for the music among tech firms:Compa- pool of engineers, as well as Enrollments are up bator lab in Boulder, Colo. But in industry,and which officially makes nies are moving here. seasoned entrepreneurs who can at summer camps January, when a second financing Manhattan its home June 1. “It’ll They’re drawn by a thriving offer encouragement and advice. See TECH on Page 22 SMALL BUSINESS, PAGE 14 round brought in $6.5 million,it was cost us more, but the ability and ecosystem fed by money from pri- Real Estate Report: Third Ave. bargains Super PAGE 15 PACs eyed for mayoral election Biz groups’ millions could upend 2013 BUSINESS LIVES race for City Hall GOTHAM GIGS BY DANIEL MASSEY Helping parents make the grade P. 25 Conventional wisdom in city poli- ● ANNE FISHER Ego tics holds that the only alternative stifles innovation P. 25 to the campaign finance system is for a billionaire candidate like ● MOVERS & SHAKERS Michael Bloomberg to throw tens Bike-share’s chief cyclist of millions of dollars into a run. gets ready to roll P. 26 But the phenomenon of super ● GAEL GREENE Beirut PACs is about to flip that thinking LEXY FUNK OF BROOKLYN upside down. From Utah to Indi- INDUSTRIES: Her specialty retail import offers bold take chain makes more goods locally on Mideast cuisine P. 27 ana, these giant funds have spent so that new merchandise arrives millions to shape elections. Now in weeks rather than months. they’re poised to come to New York buck ennis City,where they could shake up the INDEX 2013 mayoral race by promoting a business-friendly candidate who NEW YORK, NEW YORK _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _8 might not be able to self-finance. THE INSIDER _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _10 “There will be super PACs,” NEIGHBORHOOD JOURNAL _ _ _ _ _ _ _ _ _ _ _ _ _11 said New York Republican State VIEWPOINT Committee Chairman Ed Cox. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _12 FASHION GETS FAST “It’s impossible not to have them. FOR THE RECORD _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _19 They’re a part of the process now.” CLASSIFIEDS _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _20 While their arrival may be in- HOT JOBS Trend-driven retail industry’s need for speed _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _25 evitable, there are plenty of ques- EXECUTIVE MOVES _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _25 tion marks. Strict local disclosure is changing how apparel outfits do business THE WEEK AHEAD _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _27 laws mean super PACs here will be See PACS on Page 22 “When you think fast fashion, you think of cheap BY ADRIANNE PASQUARELLI designs copied from the runway,”said Lexy Funk,chief 20 5 executive of the 13-unit chain. “We want to innovate Looking to kick its retail operations into higher gear, with original designs but do it in a fast manner.” hipster clothing chain Brooklyn Industries last fall To get stylish duds on the selling floor more rapid- borrowed from the playbook of higher-flying com- ly,Ms.Funk has shifted some of her chain’s production ELECTRONIC EDITION petitors H&M and Zara, known for what the retail to New York. In one example, it took just six weeks to world calls “fast fashion,” or ultraquick turnaround of design and deliver a line of leather bags to her stores, NEWSPAPER the latest designer styles. See FAST FASHION on Page 9 71486 01068 0 20120514-NEWS--0002-NAT-CCI-CN_-- 5/11/2012 7:34 PM Page 1 IN BRIEF THE METROPOLITAN TRANSPORTATION AUTHORITY MIGHT OUTSOURCE THE management and operations of the tunnels, track and 360,000-square-foot station being built under Grand Central Terminal.The authority paid Scottsdale, Ariz.-based InfraConsult $600,000 to assess the feasibility of privatizing the operations of the concourse, which will have 23,000 square feet of retail space and open in approximately 2019.The report, completed in February, has not been released.The MTA has yet to make a decision, a spokesman said, but does expect to have a private company manage the new Fulton Street Transit Center, which it is calling Fulton Center to brand it as a shopping destination. Next month, it will issue a request for proposals for a company to operate the center, which includes 32,000 square feet of retail space. “The [company] will function like a shopping- HEADY TIMES: Majority mall manager,” an MTA spokesman said. owners Eric (left) and “They’ll get a percentage of the revenue, which Robin Ottaway flank gives them an incentive to make everything co-founder Steve Hindy. work well.” THE NEW YORK CITY TRIATHLON HAS SIGNED A NEW TITLE SPONSOR. SKIN BALM AQUAPHOR buck ennis inked a three-year agreement to put its name on the annual event.Though financial terms were not disclosed, Aquaphor, which is owned by Wilton, Conn.-based Beiersdorf Inc., is paying From print to pint: Newspaper more than previous sponsor Nautica.The triathlon, now in its 12th year, costs nearly $2 million to produce, according to John Korff, president of its organizer, Korff Enterprises. scions hop on at B’klyn Brewery More than 3,000 athletes are expected to participate in this year’s race, to be held July 8. Ⅲ worked up the ladder, from driving fork- important voice for the craft-brewing in- Steve Hindy hands lifts to selling beer out of a warehouse. dustry—and to handle legislative issues BY THE NUMBERS “For me, it’s the only thing I’ve done,” and marketing, he plans to pare back his over control of his said Robin.“It wasn’t glamorous in the be- workweek over the next few years. Weekly shift of the city’s economy ginning.” The brothers are stepping up at a time UNCERTAINTY RULES Maybe Europe’s craft-beer business Now they are poised to take the reins of when Brooklyn Brewery’s growth is sky- policymakers will eventually steer things toward the best-known brewery in New York.The rocketing, fueled by an aggressive expansion growth, but in the meantime, the euro crisis is to Ottaway heirs brothers have spent the past 17 years at the amid the rising popularity of craft beer. It is upending plans around the globe. Williamsburg-based plant working along- currently the 13th-largest craft-brewing side its co-founder and president, Stephen company in the U.S., up from 20th in 2010, BY LISA FICKENSCHER Hindy, who has been quietly handing off according to the Brewers Association.
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