Local News

Triangle Start-Ups Doing Well

Posted July 18, 2001

— Technology companies have been having a tough time as a whole, but a couple of Raleigh start-ups are doing very well.

Raleigh's Allwall.com has changed its name to

Art.com

. The switch happened when Allwall.com bought California-based Art.com from Getty Images. The small Raleigh company sells posters, fine art prints and framing online.

In just six weeks, business has doubled with more than 100,000 visitors to its Website each day. They have also added 26 new employees. More importantly, profits have doubled.

"We're running an efficient shop as clean as we can be, trying to make things step by step, not going too fast, although we're still growing really fast," says Joshua Chodniewicz, CEO of Art.com. "We're trying not to outgrow ourselves where we can actually hurt ourselves."

Plans are underway to move from multiple locations to a new building three times its size. If business continues to grow, Chodniewicz says his company could hire hundred of more people.

Nitronex received more than $24 million in a second round of financing, which will be used to support production of new products.

Nitronex spun out of technology developed at N.C. State. Using a highly secret technique, the company is producing the world's first gallium nitride-based semiconductor products.

This month, a new Optoelectronics Division was created to make solid-state lighting. Nitronex also plans to move to larger quarters.

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