Monday, December 3, 2012

Entrepreneurs Buy Powder Mountain To Set Up Startup Community

A conference operator targeting Silicon Valley entrepreneurs said today that it has acquired Powder Mountain, the Eden, Utah-based ski resort, as the new headquarters for its entrepreneurial efforts. The Summit Series, which runs a series of events aimed at Silicon Valley technology entrepreneurs, said it has acquired Powder Mountain as the "home base" for the organization, which is headed by Elliott Bisnow. Financial details of the buy were not announced, however, reports placed the price at around $40M. Powder Mountain is about 44 miles north of the Salt Lake International Airport, just northeast of Ogden. The Summit invests in companies, and lists such companies as Warby Parker, Zaarly, Uber, ecomom, Gobbler, SCribd, and others as portfolio companies.