Tech Startup Built For 'Long Term'Posted: Updated:
The co-founder of a technology startup says he has no interest in growing the company to be sold, but rather, "building it for the long term" in Indiana. Indianapolis-based Bloomerang produces donor retention software targeted at nonprofits and this month is marking its first year in business. Tech veteran Jay Love says the company has grown to 15 employees and nearly 200 customers. In a Studio(i) interview, he says a unique aspect of the venture is its focus on long-term dividends, instead of investor returns. Love is no stranger to building and selling tech companies.
The Butler University graduate was CEO and co-founder of Indianapolis-based eTapestry and led its sale to Blackbaud Inc. in 2007.
At the time, the company had more than 10,000 non-profit customers.
Source: Inside INdiana Business