The Central Texas Angel Network Streamlines its Application Process

For the first time in five years, the Central Texas Angel Network has restructured its funding cycle and its first deadline to apply is coming up on Jan. 4th. CTAN streamlined its application process so that all deals now fall into five categories: business to business software, business to consumer software, hardware, life sciences and […]

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Women’s clothing retailer to shutter San Marcos store amid national downsizing

Amid a national downsizing, women’s clothing retailer The Limited is set to close its San Marcos store at the Tanger Outlets mall off I-35 south of Austin.
A store representative said the San Marcos location will close Jan. 7.
The closings come as the retailer has been planning to file for bankruptcy and has been laying off employees at its headquarters in Ohio, sister publication the Columbus Business First reports.
The Limited also operates five Houston-area locations — four of which will…

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Year in review: Austin’s 22 biggest funding rounds of 2016 — and how those startups plan to spend $577M

How do you spend $574.6 million? That’s the question facing 22 Austin businesses that raised at least $10 million in 2016.
Overall venture capital investment in Austin startups was down in 2016. Through Dec. 9, the Austin Chamber of Commerce tracked 133 VC deals in the area worth $804.7 million, compared with 164 deals worth $920 million in all of 2015.
In an annual funding wrap-up that looked at regulatory filings and company announcements, Austin Inno reported that local firms raised more than…

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Year in review: Population wave fills in the Austin map, plus other top ABJ economic stories

It’s hard to overstate the effect of Austin’s population growth on the big business stories of 2016.
The departure of Uber and Lyft from the city was initially seen as a blow to car-sharing and other innovative ways to solve regional transit woes, though a number of startups have rushed in to replace them. Rezoning cases shaped where new residents will live, plus the density and access they will be afforded. Regulatory decisions impacted industries that employ thousands, as well as the entrepreneurs…

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In the Office: How Chi’Lantro founder turned a food truck into a culinary success story (Video)

When it came to deciding whether he would launch his restaurant concept in a food truck or a more permanent location, Jae Kim didn’t have a choice — he couldn’t afford a brick-and-mortar store.
Kim maxed out credit cards and used $30,000 in savings to start Chi’Lantro BBQ in 2010. With his Korean-Mexican fusion cuisine such as kimchi fries flying out of his trucks, he has been able to grow the business into four physical stores and counting, with the first location outside Austin set to open by…

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Extensive renovations, name change planned at Austin luxury resort after sale to NY firm

Travaasa Austin, a idyllic resort and spa on the north shore of Lake Travis that is bringing in solid revenue numbers, has been purchased by Miraval Group.
The New York-based investor is focusing on building a destination wellness brand. Currently, it operates Miraval Arizona Resort & Spa in Tucson, Arizona, and Miraval Life in Balance Spa at Monarch Beach Resort in Dana Point, California.
Travaasa, which will undergo a big expansion, will be rebranded as Miraval Austin when renovations are completed…

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Austin medical device maker goes public after completing reverse merger

Austin has gained another public company: Shares of Apollo Endosurgery Inc. were to start trading Friday on the Nasdaq with the ticker symbol "APEN."
The medical device maker, which counts the Lap-Band obesity treatment among its products, said Thursday it had completed its reverse merger with Lpath Inc., retiring the California company’s "LPTN" ticker.
The deal was first announced in September. CEO Todd Newton told Austin Business Journal at the time that Apollo was strictly interested in reaching…

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