Report: CEO of tech firm connected to Booker resigns

The head of a tech company that likely Senator Cory Booker (D-N.J.) helped start has resigned, according to the website TechCrunch. 

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TechCrunch reported that Nathan Richardson is stepping down as the chief executive of Waywire, where Booker holds a stake worth between $1 million and $5 million, according to financial disclosure records.

Richardson’s resignation comes just days after another of the company's advisers stepped down from Waywire’s board.

The resignations follow reports that Booker’s stake in a tech startup and donations from Silicon Valley suggest he is beholden to the tech industry.

Booker has said he will step down from Waywire's board if elected to the Senate. He has helped raise $1.75 million for the Internet video firm through a network of powerful celebrity connections, such as Oprah Winfrey and Facebook founder Mark Zuckerberg.

Those same connections helped Booker raise millions of dollars during his all-out campaign to replace the late Sen. Frank Lautenberg (D-N.J.).

With Winfrey hosting a fundraiser and actress Eva Longoria stumping for him, Booker raised $8.6 million for his campaign by the end of July.

That sum allowed him to go on air earlier than his opponents, with more ads than any other candidate in the race, positive spots that featured him touting his problem-solving acumen and record as mayor of Newark.

And it paid off. Earlier this week, the New Jersey Democratic mayor handily won his party’s Senate primary and is heavily favored to beat Republican opponent Steve Lonegan.

His task in the general election will be to stem the steady drip of negative press over his connections to the tech and business worlds, after The New York Times revealed the fundraising overlaps.

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