The Rise of the Chicago Entrepreneur

The Rise of the Chicago Entrepreneur

The fate of the newspaper industry is still uncertain; our local newspapers are fighting for survival.The  Chicago Sun-Times, reportedly saw an average weekday circulation loss of more than 30,000 to 389,353, a 7.2 percent decline. Average Sunday circulation also dropped nearly 21,000 to 400,506, a 5 percent decline. The Chicago Tribune reports declines in daily circulation  though the Tribune's Sunday circulation increased fractionally, in the latest six-month report released Tuesday by the Audit Bureau of Circulations.

The Tribune is also attempting to exit Chapter 11 bankruptcy protection after nearly three years of wrangling. It's one of the longest-running cases since bankruptcy rules were revised about six years ago to give creditors more leeway to shape reorganizations, as reported by Crain's Chicago.

It's not all bad news in Chicago. Groupon, "the Chicago-based daily deals company is expected to price its IPO on Thursday after the markets close and begin trading as a public company on the Nasdaq on Friday," the Tribune reports.

There is also some buzz  about Dag Kittlaus, one of the world’s most accomplished mobile media innovators, and his recent move from Apple to Chicago. NBC Chicago reports, he wants to explore some “entrepreneurial ideas” in Chicago.

In other entrepreneurial news, Sandbox Industries, a Chicago-based business incubator and investment firm, is backing a new personal shopping service for professional women called CakeStyle. CakeStyle sends out boxes to clients quarterly, providing a "seasonal update" to wardrobes. A typical box will contain between $2,500 and $3,000 worth of clothing and accessories; one shipment should contain enough items for four complete outfits.

Hyde Park Angels, a group of Chicago venture capitalists associated with the University of Chicago Booth School of Business, is reviewing proposals and considering investments in three Chicago startups, including two on the food scene, Crain's Chicago reports.

 

Dorothy Claybourne is a corporate business woman, entrepreneur, and independent artist working in Chicago.


 

Leave a comment

  • ChicagoNow is full of win

    Welcome to ChicagoNow.

    Meet our bloggers,
    post comments, or
    pitch your blog idea.

  • Advertisement:
  • Categories

  • Recent posts

  • Latest on ChicagoNow

  • Advertisement:
  • Fresh Chicago News