October 21, 2014

Scrolling Headlines:

UMass student charged in connection with alleged involvement in racist vandalisms -

Monday, October 20, 2014

UMass student found dead in McNamara Hall -

Monday, October 20, 2014

Protect Our Breasts runs Breast Cancer Awareness campaign -

Monday, October 20, 2014

Underclassmen lead UMass hockey to first victory of the season -

Monday, October 20, 2014

Super Smash Bros. 3DS: A classic revitalized -

Monday, October 20, 2014

Dear Chancellor: Improve the FAC -

Monday, October 20, 2014

UMass women’s soccer shut out by Rhode Island -

Monday, October 20, 2014

Students at UMass rally to show support for Hong Kong -

Monday, October 20, 2014

Duolingo makes learning a language easier -

Monday, October 20, 2014

UMass men’s swimming and diving falls to Army; women’s team gets revenge -

Monday, October 20, 2014

UMass field hockey gets back to .500 with win over BU Sunday -

Monday, October 20, 2014

‘Columbus Day’ demonstrates ignorant view of the past -

Monday, October 20, 2014

Students for Justice in Palestine aims to spread awareness, not argue -

Monday, October 20, 2014

Mending fences: SGA and Amherst officials work together to improve town/gown relations -

Monday, October 20, 2014

UMass men’s soccer drops 5-0 decision to Saint Louis -

Monday, October 20, 2014

The Phablet continues to grow and maintain popularity -

Monday, October 20, 2014

Dayton Flyers soar at Rudd Field, 4-1 over the Minutemen -

Sunday, October 19, 2014

UMass football’s Sharpe continues his banner season in 36-14 win over Eastern Michigan -

Saturday, October 18, 2014

Shadrach Abrokwah has career day in UMass football’s 36-14 win over Eastern Michigan. -

Saturday, October 18, 2014

UMass tops Eastern Michigan 36-14, puts together first FBS winning streak -

Saturday, October 18, 2014

UMass grads fight financial crime

During a time when many businesses are downsizing and cutting back just to stay afloat, Dexrex LLC – founded and run by former University of Massachusetts students – is expanding, soon moving from college-town Amherst to the banking center of Boston.

The company’s website, Dexrex.com, allows users to archive their instant messages as well as mobile text messages, then browse and search old records. The site was created by CEO Derek Lyman and Chief Technology Officer Richard Tortora.

“While we were undergrads, Rich and I were living in Northeast [Residential Area] and we were just bored,” said Lyman.

The company plans to relocate on March 1, the latest in a series of successes for Dexrex.

 In 2005, the inspired duo started to construct and test software that would store data that could be organized and later revisited. At first, the idea was to design a program that would save instant messages in the event of a computer crash, so that later the user could log on and continue their conversations.

“It was just for fun, really,” said Lyman.

The project eventually grew from what Lyman described as “two guys kickin’ it in a dorm room to two offices with a 14-person staff.” The expansion began in 2007 when Lyman and Tortora attended the Executive Summary Competition put on by the UMass Entrepreneurial Initiative and were inspired to seek start-up investment for their company.

However, fears of the looming financial crisis were growing, and finding investors proved to be Dexrex’s biggest challenge. But ironically, it was the crisis itself that ended up spurring investors. The two entrepreneurs saw the potential for Dexrex to be a tool for financial oversight, as well as a guard against insider trading.

Lyman and Tortora’s big break came in August 2009 when a New York-based distribution company approached them. As a new enterprise in the financial sector, they sold their product to investment firms who saw Dexrex as a cheaper alternative to similar products and an effective monitoring tool against illegal financial activity.

“We revolutionized the market,” said Lyman. “We did for one to two dollars per unit what other companies were doing for $10 to $20.”

The company also launched a Blackberry application for Dexrex in April 2009.

According to a press release announcing the application’s debut, “Dexrex SMS backup automatically archives your incoming and outgoing text messages to a private, password-protected account online at Dexrex.com.”

“Dexrex provides users with a wealth of features like searching, forwarding, deletion, SMS monthly totals, contact management and the ability to view stored messages from any web-enabled device,” said the release.

The company’s founders believe the corruption on Wall Street, which was partially responsible for the recession, will give Dexrex a lasting market in which to sell their product. As long as there is finance and insider trading, firms will need companies like Dexrex to keep capitalism honest, Lyman and Tortora said.

Matt Bouteillier can be reached at mbouteil@student.umass.edu.

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