Business Briefs: Ambition raises $2 million

Business Briefs: Ambition raises $2 million

June 7th, 2014 by Associated Press and Staff Report in Business Around the Region

Ambition raises $2 million

Chattanooga-based Ambition has raised more than $2 million in capital from a handful of high-profile investors.

The company, which created a motivational sales platform that operates like fantasy football for sales people, raised the funds after graduating from Y Combinator, the prestigious tech startup incubator.

The fledgling company's new partners include the creator of Gmail, Paul Buchheit, and Alexis Ohanian, co-founder of Reddit. Additionally, Google Ventures, SV Angel, Redpoint Ventures, Highline Venture Partners and several other firms and individuals also are involved.

The company expects to have 20 employees by the end of the summer and was founded in 2013.

UPS names new CEO

UPS announced Chief Operating Officer David Abney will rise to the position of chief executive officer.

Abney, 58, started at UPS in 1974 as a part-time package loader and will step into the position of CEO Sept. 1

Current CEO Scott Davis, 62, will retire from the Sandy Springs, Ga.,-based shipping giant on the same date and become nonexecutive chairman of the company, the company said.

Before serving as COO, Abney served as president of UPS International, when he oversaw several global acquisitions. He has also served as president of UPS unit SonicAir, a same-day delivery service, and led the major acquisition of the Fritz Cos.