Michael Bor News Today

The Endowment Project expands funding opportunities for public high schools.

Several Richmond-area startups saw notable growth amid the usual hustle and bustle of company launches, pivots and capital raises in the local startup scene during 2023.

As it rolls out its first fundraising programs for local high schools as a proof-of-concept, the upstart company’s efforts just got a boost from a new, deep-pocketed source.

The company that merged with Richmond-based CarLotz Inc. in late 2022 has filed for bankruptcy.

Shift’s decision to wind-down brings to an end a marriage that failed to improve the fortunes of it and CarLotz, both of which struggled after going public through ill-fated SPAC deals.

The Endowment Project aims to be an alumni development company for public high schools with a goal of helping form and manage nonprofit endowments.

The struggling used car retailer disclosed in an SEC filing last week its plans to shutter three of its 11 stores on top of 11 other closings earlier this year.

Proxy season rolls on with executive compensation data disclosed by CarLotz, Dominion and others, plus first quarter earnings announced.

The top executive leadership changes at CarLotz continued on Thursday. Along with announcing that chief operating officer John Foley and chief technology officer Dan Valerian will be departing in April, CarLotz appointed a new president as well as a new CTO.

UPDATED: Story has been updated to correct start date of Lev Peker. CarLotz announced on Tuesday afternoon that the last day of employment for co-founder and chief executive officer Michael Bor will be Wednesday.