On the top floor of 586 Broadway, more than 100 people from over 15 companies make up the “Fueled Collective.” However, this is not app developer Fueled’s end all goal. What they envision for their SoHo location is a workspace largely filled with startups in which Fueled has been given a substantial equity stake in exchange for developing their products. This partnership arrangement would leverage the firm’s skills in strategy, design, execution and marketing—and give it prospects for growth far beyond those of a typical work-for-hire apps developer.
Founder Rameet Chawla told Crains that the firm needs to double its staff to about 120 employees—half of them in NY—before it can assign developers to numerous projects that may never pay off. That could take another year. In the meantime, it’s building a portfolio of products and partners. However, The Collective may run into a problem facing many NY startups: finding a new home at a time when rents are rising. But, Chawla does not currently seem concerned.
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