funding

NYC’s Vroom closes $50M expansion round

Vroom, the online used-car platform headquartered in NYC’s Flatiron district, has raised $50 million in a Series E round, the company announced Tuesday. The money will be used to resume a national expansion that was interrupted last year when Vroom acquired competitor Texas Auto Direct. Unlike some competitors, which operate as online marketplaces, Vroom owns its inventory, which it buys at auction and puts through a vigorous reconditioning and safety program. The company plans to…


The Lesson: Big markets mean big startup costs

By GREGORY ZELLER // From the Good Problem to Have Department comes ClipFix, the Commack tech startup looking to conquer the world one busted modular plug at a time. Since ordering its first 50,000-unit production run in October, the brainchild of founder and president Michael Strahl has been working to lock down its best customer base. That’s familiar turf to any early-stage enterprise; most startups struggle to identify customers and the best channels to reach…