FILE - In this April 15, 2019 file photo, Democratic presidential candidate Sen. Cory Booker, D-N.J., speaks during an election stop at the Sioux City Public Museum in Sioux City, Iowa. The campaign of presidential candidate Cory Booker is defending his decision to start a tech company while he was serving as mayor of New Jersey’s largest city. A spokeswoman says that Booker “jumped at the chance” to start Waywire in 2012 because he saw it as a socially-conscious video network that could bring people together. But his one-time aspiration to be a tech mogul, and his long ties to the industry, could become a liability for his campaign. (AP Photo/Nati Harnik)

Cory Booker's tech startup failed but industry ties lasted

By The Associated Press May 13, 2019 at 10:55am

The campaign of presidential candidate Cory Booker is defending his decision to start a tech company while he was serving as mayor of Newark, New Jersey.

Spokeswoman Sabrina Singh says Booker “jumped at the chance” to start Waywire because he saw it as a socially-conscious online video network that could bring people together.

Booker and two partners founded Waywire in 2012. Booker helped raise $1.75 million for the startup, including investments from former Google chairman Eric Schmidt and LinkedIn executives.

But the company never really took off. He eventually cut ties with the company by donating his ownership stake to charity.

Sen. Booker’s one-time aspiration to be a tech mogul, and his long and friendly ties to the industry, could become a liability for his presidential campaign.

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