How Toast, founded in Boston with a $500K investment from Endeca's Steve Papa after VCs shunned it, became a $30B business, in part by avoiding the Bay Area (Ari Levy/CNBC)

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Ari Levy / CNBC:

How Toast, founded in Boston with a $500K investment from Endeca’s Steve Papa after VCs shunned it, became a $30B business, in part by avoiding the Bay Area  —  – Toast’s first backer, Steve Papa, invested in the company because no venture capital firm would write the initial check.





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