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Relay Foods Closes $3.1M Offering - cbl
Posted January 26, 2012
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By Bill Murphy
CHARLOTTESVILLE, Va. - Relay Foods has closed a $3.1 million share offering, raising the amount from eight investors.
Principals named in the filings include:
· Zach Buckner, CEO
· Arnon Katz, COO
· Dean Johnson, director, from Charlottesville, Va.-based The Rimm-Kaufman Group
· Mark Giles, director
· Stein Kretsinger, director
Buckner conceived of the idea for Retail Relay while driving home from the grocery store one day. He has more than 15 years of management and product development experience and a Masters Degree in Electrical Engineering from the University of Virginia. Buckner also has five patents, and has won research and design awards from the University of Virginia and the University of California at Berkeley.
Headquartered in Charlottesville, Va., Relay Foods lets its customers shop for their groceries online and then designate a spot where they can pick up their order.
Last year, Retail Relay raised $3 million from two separate offerings.
Reg D filing: http://tinyurl.com/89kaotg
Also, at citybizlist see:
Online Grocery Store Retail Relay Raises $3M - cbl
Bios from Relay Foods site:
Zach: Founder and CEO
One day, after driving home from the grocery store one time too many, Relay founder Zach Buckner had a vision:
Shop for quality foods from local stores, online.
That was the beginning. Now here we are: multiple cities, tens of thousands of products, and a full team of great folks supporting Relay!
A self-styled entrepreneur, with over 15 years of management and product development experience, Zach has a Masters Degree in Electrical Engineering from the University of Virginia, five patents, and has won research and design awards from the University of Virginia and the University of California at Berkeley. In addition, one of his designs was named one of the '40 Best Products of 2000' by Control Engineering Magazine.
Arnie: COO and Head Honcho
Arnie is Relay's businessman with a farmer's heart. Having grown up on a kibbutz in Israel with a farmer father, Arnie knows about tractors, horses and, of course, home-grown food. Arnie was around cotton, oranges, corn, wheat and all sorts of other tasty delicacies throughout his childhood.
After leaving the Kibbutz, Arnie worked hard to pay his way through school before embarking on his obligatory 5-year military term. While in the military, Arnie met his lovely wife, Mor, and deferred his acceptance to Darden until they could move to Charlottesville together. Arnie completed his MBA at Darden last year and spent the summer working for McKinsey Consulting before coming on board at Relay. Arnie loves Charlottesville and hopes to become a permanent resident of our beautiful town!
Dean Johnson
As the Vice-Chair of Strategy and Business Development, Dean seeks out opportunities for RKG to expand its service offerings and strategic partnerships.
Prior to joining RKG, Dean was President/CEO of First Avenue Networks(NASDAQ: FRNS, now NASDAQ: FTWR), a provider of wireless backhaul and metropolitan Ethernet services. In 2001, Dean led First Avenue out of bankruptcy and repositioned its spectrum asset portfolio for growth in the context of a drastically changed environment in the telecommunications industry. Under his leadership, First Avenue Networks acquired the spectrum assets of Teligent, Inc., raised over $100 million in equity and debt capital and achieved an equity market capitalization of over $1 billion.
Formerly, Dean was president of Cardinal Point Associates, a strategic and financial consultant to broadband wireless companies. Dean was instrumental in the founding and growth of two Internet retailers, one of which he steered from its first round of financing through the early development stages to an initial public offering. He was also the Co-Founder and President of American Quality Cable in Charlottesville, VA, where he developed wireless broadband distribution systems.
Dean holds a Bachelor of Science from General Motors Institute (now Kettering University) and an MBA from the University of Virginia.
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