Spencer Trask & Co.

Spencer Trask & Co.
Headquarters
New York City
,
United States
Key people
Kevin Kimberlin (Chairman)
ServicesDevelopment of advanced technology companies
Websitespencertraskco.com

Spencer Trask & Co. was founded by Spencer Trask and George Foster Peabody as an investment firm.[1][2] The company is headquartered in Greenwich, Connecticut, and funds ventures in genomics, healthcare, mobile technology and communications.[3][4]

History

Spencer Trask & Co. was established in 1881 by Spencer Trask, evolving from his earlier ventures, including Trask & Stone, a brokerage house founded in 1868.[1][5]

In the late 19th and early 20th centuries, the firm played a key role in financing[6] Thomas Edison in the development of the light bulb and the electric power systems.[7][8] Trask was president of the New York Edison Company, the world's first electric power company, for nearly 15 years,[1] now known as Consolidated Edison (ConEd).[9] Spencer Trask was one of the first companies to be supplied with electric lamps.[10]

Spencer Trask & Co. also provided financing Guglielmo Marconi and Marconi Wireless, whose work in radio technology laid the groundwork for today's wireless communications.[6]

Mr. Spencer Trask purchased 100% of The New York Times and hired Adolph S. Ochs as publisher. Trask remained the major stockholder as Ochs rejuvenated the newspaper and made it profitable.[10]

Spencer Trask & Co. was the first investor in Ciena Corporation, which made significant advancements in fiber optic communications technology. Ciena first commercialized dense wavelength division multiplexing (WDM) technology.[11] This became a core component of modern fiber-optic communications, telecommunications infrastructure and the Internet.[12]

The firm provided the first funding to Myriad Genetics, a genomics diagnostics company known for sequencing the breast cancer gene, BRCA1.[13] This work contributed to advances in genomic medicine.

In addition, Spencer Trask & Co. invested in Health Dialog[14][15] to commercialize partner Jack Wennberg's work in evidence-based medicine and informed patient-based decision-making.[16] Health Dialog's support and research provided the analytical foundation for the Affordable Care Act (ACA).[17]

In August 2024, Spencer Trask launched Signal12 Inc. (Signal12), a clinical-stage ocular health company.[18]

References

  1. ^ a b c "SPENCER TRASK & CO. 50 YEARS OLD TODAY". The New York Times. 1931-05-01. Retrieved 2024-11-01.
  2. ^ "George Foster Peabody". New Georgia Encyclopedia. 2013-08-09. Retrieved 2024-11-01.
  3. ^ "Spencer Trask Joins UNICEF and the Bill & Melinda Gates Foundation to Support 5th Annual World Polio Day". markets.businessinsider.com. 2017-10-23. Retrieved 2024-12-13.
  4. ^ "Spencer Trask & Co". Bloomberg.com. Retrieved 2024-11-01.
  5. ^ "Yaddo records". archives.nypl.org. 2017-08-10. Retrieved 2024-11-01.
  6. ^ a b "Trask Marconi". Newspapers.com. 1903-11-01. Retrieved 2024-11-01.
  7. ^ "The Edisonian, Vol. 8, Issue 1, Sept. 2011". Thomas A. Edison Papers. 2011-09-23. Retrieved 2024-11-01.
  8. ^ "Global forex brokerage firm FxPro enters UAE". GulfNews. 2022-04-14. Retrieved 2024-11-01.
  9. ^ "The Edison Electric Illuminating Co. of New York" (PDF). Columbia University. January 21, 1891. Retrieved November 1, 2024.
  10. ^ a b "An Expanding Spencer Trask & Co. Keeps Its Personal Touch; Spencer Trask Keeps Personal Touch". The New York Times. 1968-02-05. Retrieved 2024-12-13.
  11. ^ "Spencer Trask & Co. Partners with UCLA Samueli School of Engineering to Support 50th Anniversary of the Internet Celebration". markets.businessinsider.com. 2019-10-29. Retrieved 2024-11-01.
  12. ^ Markoff, John (1997-03-03). "Fiber-Optic Technology Draws Record Stock Value". The New York Times. Retrieved 2024-11-01.
  13. ^ Angier, Natalie (1994-09-20). "Fierce Competition Marked Fervid Race For Cancer Gene". The New York Times. Retrieved 2024-11-01.
  14. ^ "Health Dialog Services Corp". Venture Capital and Tech Investment Insights. 2012-09-23. Retrieved 2024-11-01.
  15. ^ "Health Dialog company information, funding & investors". Space Tech. 2024-11-01. Retrieved 2024-11-01.
  16. ^ Gale A (2016). "John Wennberg, MD: The Influential Doctor Who Blames Physicians and Fee-For-Service Medicine for the High Cost of Health Care. Obama Care is Based on His Research". Mo Med. 113 (3): 156–8. PMC 6140041. PMID 27443035.
  17. ^ Fisher, Elliott S.; Wennberg, David E.; Stukel, Thrse A.; Gottlieb, Daniel J.; Lucas, F. L.; Pinder, Étoile L. (2003-02-18). "The Implications of Regional Variations in Medicare Spending. Part 1: The Content, Quality, and Accessibility of Care". Annals of Internal Medicine. 138 (4). American College of Physicians: 273. doi:10.7326/0003-4819-138-4-200302180-00006. ISSN 0003-4819.
  18. ^ Spencer Trask &amp (2024-08-13). "Spencer Trask & Co. Launches Dry Eye Venture Signal12 with Former Aerie Pharmaceutical Executives Thomas Mitro and Marvin Garrett". PR Newswire. Retrieved 2024-12-13.
allikas: https://en.wikipedia.org/wiki/Spencer_Trask_%26_Co.