Cory Booker's tech startup failed but industry ties lasted

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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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