Jason Del Rey

Recent Posts by Jason Del Rey

Ted Leonsis’s Revolution Growth Leads $20 Million-Plus Investment in Inventory-Management Firm Optoro

Optoro, a Maryland-based startup that helps brick-and-mortar retailers sell their unsold or returned goods on third-party e-commerce marketplaces, has raised a $20-million-plus investment led by Revolution Growth, the investment firm started by former AOL execs Ted Leonsis and Steve Case. The company would not disclose the exact amount of the funding, but a Form D filing indicates that it totaled $23.5 million. About $3 million of the new investment went to current shareholders, according to the filing, and Leonsis is joining the company’s board. Grotech Ventures also invested in the round.

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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work