Company Launches Potential Email Game ChangerPosted: Updated:
A new technology company is launching an email app and plans to create up to 150 jobs in central Indiana by 2018. Gusto LLC was founded by former Overstock.com Inc. (Nasdaq: OSTK) and ChaCha Inc. executive Shawn Schwegman. It has developed an app designed to let users attach files and search email more easily. The company was unveiled during an event Thursday at Verge in Indianapolis. In an interview to air this weekend on Inside INdiana Business Television, Schwegman says Gusto says can become a billion-dollar company in central Indiana. The company plans to invest nearly $1 million in the project.
February 27, 2014
INDIANAPOLIS (Feb. 27, 2014) – Gusto, LLC, a business-to-consumer technology company, announced plans today to locate its operations in central Indiana, creating up to 150 new jobs by 2018.
“Indiana has transitioned into a hub for some of the nation’s fastest growing high-tech companies,” said Governor Mike Pence. “Home to a stable business climate and a dedicated Hoosier workforce, Indiana enables tech companies to follow the spark of a great idea, fostering it as it grows brighter and stronger. Companies like Gusto can excel in our low-tax environment, equipping tech companies with a competitive advantage here in a state that works.”
Founded by ChaCha and Overstock.com alum Shawn Schwegma, Gusto, a developer of technology applications for smart phones, tablets and desktop computers, plans to invest $975,000 to launch its operations in the Indianapolis Metropolitan Area. While the new location is expected to be operational by April, the company will immediately begin marketing its email application for the iPhone, Android devices, tablets and desktop. Interested applicants may apply by reaching out via the gustoemail.com website.
“Success breeds success, and Indiana has proven that home-grown entrepreneurial companies can become national powerhouses,” said Shawn Schwegman, founder and chief executive officer of Gusto. “We are proud to build a company here and look forward to growing it with the support of Indiana. This is no doubt the best state in the country to launch and grow a startup.”
Gusto unveiled its new iPhone email app today at the largest event of its kind hosted by Verge, an Indianapolis organization for technology startups, in downtown Indianapolis. During the launch, the firm previewed its forthcoming iPhone app that combines mobile email with built-in cloud storage—meaning every file, photo and email you’ve ever sent or received is available in a single, unified inbox.
The Indiana Economic Development Corporation offered Gusto, LLC up to $2.65 million in conditional tax credits and up to $100,000 in training grants based on the company's job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives.
Headquartered in Indianapolis, Gusto’s mission is to improve email, productivity and digital organization for the world on mobile, desktop and the web. Our digital lives are spread across the Internet with multiple email accounts, forgotten attachments, and files/photos scattered throughout the desktop, the cloud and buried in email. Gusto brings order to the chaos of your digital world. For more information, please visit www.gustoemail.com.
Created in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Mike Pence. Victor Smith serves as the Indiana Secretary of Commerce and Eric Doden is the president of the IEDC.
The IEDC oversees programs enacted by the General Assembly including tax credits, workforce training grants and public infrastructure assistance. All tax credits are performance-based. Therefore, companies must first invest in Indiana through job creation or capital investment before incentives are paid. A company who does not meet its full projections only receives a percentage of the incentives proportional to its actual investment. For more information about IEDC, visit www.iedc.in.gov.
Source: Indiana Economic Development Corp.
Editor's Note - A previous version of this post stated the 150 jobs would be in Indianapolis. The IEDC says Gusto has not chosen a specific location for the positions but is committed to central Indiana. The post has been revised.