The decision to leave a steady paycheck for an unpredictable new venture is a quandary many entrepreneurs encounter, particularly those starting a company for the first time.
After making that plunge two-and-a-half years ago, the co-founders of Ruck.us, a social network for those interested in politics and policy, are taking on corporate titles.
Co-founder Ray Glendening will start July 8 as vice president of innovation at McBee Strategic, a District-based consultancy.
The announcement came after his business partner, Nathan Daschle, was named executive vice president for political strategy at Clear Channel Media and Entertainment.
So does this spell the end of Ruck.us? The founders insist it doesn’t. Rather, the upstart is focused now on development, an area where the co-founders have little experience. As a result, day-to-day operations have been taken over by Jonathan Zucker, a former political fundraiser who has founded prior start-ups.
“We both realized that the type of people who need to be working full-time on Ruck.us are on the development side, not the strategy side,” Daschle said.
Glendening said the duo’s newly accepted positions will allow them to remain engaged at Ruck.us.
“He and I both angled our new positions in a way that allows us to be as freely and actively involved in Ruck.us as humanly possible,” Glendening said.
The firm is in the midst of raising an undisclosed sum from investors, and Daschle said he has opened his own wallet to contribute to the current financing round.
Arlington-based Applied Predictive Technologies took in $100 million from the Merchant Banking Division of Goldman Sachs, the firm announced last week, marking one of the region’s largest investments so far this year.
APT provides cloud-based software that helps companies process vast amount of data in an effort to maximize the payoff on their marketing, merchandising, operations and other business endeavors.
Chief executive Anthony Bruce said in a statement that the firm’s clients include McDonald’s, Wal-Mart and Hilton. The investment allows the firm to “further expand the breadth and depth of industries we serve across the globe,” he said.