Ruckus Media has found some refuge with mobile app company KiwiTech, which is acquiring a 75 percent stake in the digital children’s media company that has struggled to find a lasting business model. Ruckus founder and ceo Rick Richter will depart following the sale, though he will continue to serve as an advisor. Chief content officer Jason Root will move up to ceo of Ruckus, reporting to KiwiTech ceo Rakesh Gupta. The company’s Wilton, CT office will close, yet Ruckus will still “remain Connecticut based.” Venture capital firm Alsop Louie Partners, which led a $3.5 million series A funding round […]
