Publicly traded Determine Inc. generated fanfare when it announced it was moving its headquarters here and adding 24 jobs to the 35 already here. But many investors have been betting against it for years.
Since 2014 alone, 14 tech or tech-related companies opened offices within a quarter-mile radius of the Soldiers and Sailors Monument. And all told, 26 such companies inhabit that roughly 16-block cluster.
Local entrepreneurs Mark Welsh and Charlie Russell last year started an app development company. And this year, they inked partnerships with ESPN fantasy football guru Matthew Berry and daily fantasy sports behemoth DraftKings for their first major endeavor.
All have led some of the most promising companies and organizations in the city's burgeoning tech space for at least three years—bootstrapping and collectively raising more than $12 million in venture capital and employing about 150 people along the way.
The Chicago-based tech firm, which planned to hire hundreds in Indianapolis and considered moving its headquarters here, has streamlined local operations. Meanwhile, top local exec R.J. Talyor has parted ways with the company.
Indianapolis-based Interactive Intelligence Inc. has filed a federal patent lawsuit against Avaya Inc., a competitor with which Interactive Intelligence also had a long-standing patent license agreement.
Shares in Interactive Intelligence Group Inc. jumped nearly 20 percent Friday after Reuters reported that the Indianapolis-based software firm was exploring “strategic alternatives,” including a potential sale.
The home-services review company earned $4.8 million in the second quarter, marking the fifth time in the last seven quarters it has turned a profit. But revenue continued to slip as the company overhauled its business model.