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May 27, 2011 AT 1:54 pm

New York Start-Ups Ride Tech Boom

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New York Start-Ups Ride Tech Boom @ WSJ.com

It’s official: The Internet gold rush is spreading east. A decade after the tech bubble burst and brought down Silicon Alley, investors are crowding back into New York’s start-up scene, pumping funds into companies like fashion website Gilt Groupe Inc., which now commands a $1 billion valuation, private-company trading system SecondMarket Inc. and location-based networking business Foursquare Labs Inc. The flood of money is encouraging would-be entrepreneurs to ditch Wall Street or Madison Avenue careers to set up companies in New York-centric industries such as fashion, retail, finance and media. Those businesses, in turn, are having an impact far beyond the city itself.

It’s true, lots of new tech companies in NY!


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