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UCSB spinout Lettuce Apps acquired by Intuit

By   /   Friday, May 9th, 2014  /   Comments Off on UCSB spinout Lettuce Apps acquired by Intuit

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Lettuce Apps, a spinout out of UC Santa Barbara, has been acquired by financial software giant Intuit for an estimated $30 million.

The Los Angeles-based company got its start in UCSB’s Technology Management Program, which has produced a number of successful startups including medical device maker Inogen, now a publicly traded company based in Goleta.

The Lettuce Apps team, which came together in professor John Greathouse’s entrepreneurship course, originally had a company called Dura-Doggie that made toys for dogs. It left that idea behind but went on to commercialize the inventory management software it had developed for the the dog-toy brand. Lettuce, as the product is now called, offers inventory management for wholesalers and e-commerce businesses.

The company has raised about $2 million in venture funding from investors including Baroda Ventures, Windforce, 500 Startups, Crosscut Ventures, Launchpad LA, Zelkova Ventures and Double M Capital.

“Without the TMP program Lettuce most likely would have never been created,” Lettuce Apps Director of Operations Chase McElroy said in a statement sent from the university.

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