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Firm’s Founder Unveils $50M Fund Aimed at Luring Tech Companies to Newark

Audible.com’s Katz hopes venture capital initiative will attract at least 50 start-ups to city’s downtown

The message conveyed yesterday was loud and clear. Don Katz, founder of Audible.com, announced the creation of a $50 million venture capital fund to attract 50 new tech start-up companies to his company’s building in downtown Newark.

Among notables on hand for Katz’s announcement – and touting the potential economic benefits of attract tech firms to Newark – were Mayor Ras Baraka, Lt. Gov. Kim Guadagno, former governor Thomas Kean, and U.S. Sen. Cory Booker, former mayor of Newark.

Many of those on hand for the announcement described the initiative as one step toward Newark’s revival. Read the full report by NJTV News, a content partner of NJ Spotlight.

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