Despite challenges, startups can find investors to grow in Rhode Island

Originally published on Feb. 17, 2017.

Dr. Rajiv Kumar and Dr. Brad Weinberg molded the idea for what became known as ShapeUp while earning their medical degrees at Brown University in the early 2000s.

The startup, focused on encouraging healthy life habits, proved lucrative and last year was sold to Massachusetts-based Virgin Pulse Inc., an arm of Sir Richard Branson’s Virgin Group. The company subsequently announced a plan to bring 300 new jobs to Rhode Island over the next five years.

“When Virgin Pulse bought ShapeUp, the worst-kept secret among business leaders was that they were looking to move north to Boston,” said Gov. Gina M. Raimondo, who held a press conference to announce the new jobs last year. “[But] instead of losing 65 good-paying jobs to Boston, we’re going to create nearly 300.”

The homegrown success story received a shower of praise from the state’s top elected official and political operatives, as it fits nicely into Raimondo’s economic-development agenda aimed at growing jobs. But taking ShapeUp from idea to acquisition wasn’t simple, and like most Rhode Island startups it had little to do with the state’s involvement, but rather its own ability to raise money.

Read the full story here on Providence Business News.


2 thoughts on “Despite challenges, startups can find investors to grow in Rhode Island

  1. Great blog right here! Additionally your website quite a bit up very fast! What host are you the use of? Can I am getting your associate link on your host? I wish my website loaded up as quickly as yours lol


  2. I am not certain the place you are getting your information, however great topic. I must spend some time studying more or understanding more. Thank you for great information I was on the lookout for this information for my mission.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s