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  • American City Business Journalslast month

    Verizon scoops up former Hulu CEO's video startup, shuts it down

    Verizon Communications is taking over Vessel, the startup co-founded by former Hulu CEO Jason Kilar, and shutting it down. Vessel announced the purchase via a blog post , explaining that "at the heart of this transaction" is its short-form video technology. Terms of the deal were not revealed, but San Francisco-based Vessel has raised $132.5 million from Benchmark, Greylock Partners, Bezos Expeditions, Comcast Ventures, IVP, Saban Capital Group and Third Wave Digital.

  • American City Business Journals2 months ago

    Ted Leonsis sells Nantucket mansion for $8.5M

    Sports and venture capital magnate Ted Leonsis and his wife, Lynn, have sold their sprawling Nantucket mansion in Massachusetts for $8.5 million to an unknown buyer, according to a Nantucket County deed. The couple's three-level, five-bedroom home is located on Rabbit Run Road in Nantucket's Shawkemo area. Leonsis bought it later that year for $6.7 million, a Nantucket County deed shows.

  • American City Business Journals2 months ago

    Making the Case: What's missing, and what's right, in the Phoenix startup community

    7 as he toured the region's successful startups through his Rise of the Rest bus tour. Phoenix Mayor Greg Stanton met Revolution venture capital firm CEO Case first thing in the morning at Civic Center Park and joined the bus tour for breakfast at the Desert Botanical Gardens, where more than 50 joined him. “The local Latino population is younger, bilingual and some of the most entrepreneurial locally,” Stanton said.