Wednesday, July 16, 2014

Amazon Vet Gets $8.5M From Madrona To Take On Amazon

An Amazon.com veteran has just scored $8.5M in a funding round for his startup, Boomerang Commerce, to take on his old employer, Amazon.com -- with help from Madrona Venture Group, along with Trinity Ventures. The startup, led by Guru Hariharan--who previously had served at a variety of roles at Amazon.com--is based in Silicon Valley, and says it is developing pricing optimization software which specifically is aimed at helping online retailers compete with Amazon.com. Karan Mehandru from Trinity Ventures and Scott Jacobson from Madrona Venture Group have both joined the company's board with the funding. More information »