Brothers and serial entrepreneurs Ryan and Chad Steelberg have raised $20 million for their latest venture, Brand Affinity Technologies, which uses algorithms to match advertisers with celebrity endorsers. "We live in a celebrity culture," Ryan Steelberg says. "If there's a company with sound business fundamentals, strong growth, and a celebrity angle, VCs are not immune to that."...Anna Corinna and Dana Foley, co-founders of the fashion label Foley + Corinna, have joined the growing group of luxury brands that are setting up e-commerce sites. "It's a great way to advertise our brand," Corinna says. "We've had hits from people in more than 100 countries."...Amie Street, the online music store, has sold its assets to Amazon for an undisclosed sum and is now focusing on Songza, its social platform for music. "Amie Street has a lot of value," co-founder Joshua Boltuch says. "But it's harder for a smaller company to compete with iTunes."...Jessica DiLullo Herrin, founder and CEO of Stella & Dot, has launched the Stella & Dot Foundation, which will donate profits from some products to charities such as buildOn, which builds schools in developing countries. "Having an impact beyond our bottom line has always been part of our plan," DiLullo Herrin says....Segway creator Dean Kamen is the host of Dean of Invention, a new Planet Green show on which Kamen explores new technologies, including the robotic prosthetic arm being developed by his current company, Deka Research. "One of the highlights was going to the VA hospital in New York and watching a guy use our prosthetic," Kamen says.
Nov 1, 2010