Corista
Posted by Mark Nelson on 8th March 2010 | Permanent Link
Not everyone involved with Euclid knows that the same management team has been working on another startup, Corista. Corista is working on medical imaging, and rumor has it that they too will depend on some impressive compression breakthroughs in order to succeed.
It’s a pretty good deal for the Wingard family. By leveraging the funding techniques developed at Euclid by Richard Wingard, Liz Wingard can presumably draw another few hundred K per year at Corista, which makes for a nice total family income.
Corista is a story I don’t know much about, although I have heard it is using the same Angel/LLC funding techniques that have worked so well for ED. I only bring up their name because of this quote from a job posting on their web site:
Corista is the 2nd company to be developed by this management team. The first, Euclid Discoveries (www.eucliddiscoveries.com) has developed a video image compression technology that compresses video images and provides a substantial improvement over current state of the art. Euclid Discoveries is currently represented by a leading NYC Investment Bank in the acquisition process. The company was founded in 1999 and is privately funded.
They key sentence in there is that Euclid is ostensibly in the acquisition process.
The Investment Bank is of course Allen & Co., in the person of Nancy Peretsman. Nancy’s name is brought up a lot in an attempt to gain legitimacy, but Nancy’s actual involvement is speculative at this point. And of course, whether Allen & Co. is going to be able to sell ED is even more speculative.
- Mark