Silicon Valley may have more startups and money, but New York City is a predominant force in ad-tech, with two other key sectors that are being transformed by technology – digital media and e-commerce. And, New York City is also a strong contender in other emerging industries such as financial tech and health tech.
Scott Knoll, CEO of Integral Ad Science, started in ad tech at DoubleClick, a Manhattan startup formed in the 90’s and was eventually purchased by Google. When it came to choosing a location it made sense to have an ad-tech firm in Silicon Valley, New York. Today, it’s essential.
NYC TECH, 2003-2013
2,206 companies started
336 acquisitions and IPO’s, worth $18.1 billion
$14.2 billion in investment capital
13.3% annual growth in VC investments
“If you are building an ad-tech company, this city is a must-have presence, you have to be in New York. You don’t necessarily have to be in Silicon Valley.” said Mr. Knoll. New York has started to develop boundless networks where successful entrepreneurs develop new companies and hire new entrepreneurs.
There’s every reason to believe that New York’s emergence as a major tech center is still in its early days.
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