Indianapolis, IN
Indianapolis tech startup Arrive calls off planned merger – Indianapolis Business Journal
Indianapolis-based smart-mailbox startup Arrive AI has called off its planned merger with Canada-based Brüush Oral Care Inc.
In December, Arrive announced it planned to go public by merging with Vancouver, British Columbia-based Brüush, a publicly traded e-commerce company that sells electric toothbrushes. At the time of that announcement, Arrive said it anticipated closing the merger in the first quarter of 2024.
But late Friday, Arrive said it was terminating the merger agreement because Brüush had been suspended from the Nasdaq Stock Market for failure to comply with Nasdaq’s qualifications for listing.
“We were repeatedly advised that Brüush expected to clear its Nasdaq hurdles, but in the end, that just wasn’t the case,” Arrive CEO Dan O’Toole said in a written statement.
Under terms of the deal, the combined company would have been based in Indianapolis and led by Arrive’s existing management team, headed by O’Toole.
O’Toole said Arrive is still working to become a publicly traded company, and he believes that will happen by year’s end.
Arrive launched in 2019 and did business as DroneDek Corp. until a rebranding last year, when it became Arrive Technology Inc. The company, which rebranded again this year as Arrive AI, has developed a climate-controlled, secure receptacle for deliveries made by drones, couriers, or robots.
One of Nasdaq’s listing requirements is that a company must have an audit committee made up of at least three people, all of whom are independent directors. On April 18, Brüush disclosed in a Securities and Exchange Commission filing that it had missed an April 12 deadline to come into compliance with the requirement. In its filing, Brüush noted that it had submitted a compliance plan to a Nasdaq hearings panel but had not yet received a decision.
Brüush also fell out of compliance with Nasdaq’s minimum share price requirement and because of a delinquency in filing its annual report for the year ended Oct. 31, 2023.
Indianapolis, IN
That trail you walk downtown? It’s generated $3 billion for Indianapolis, study finds
See the 10th Street Cultural Trail Expansion ribbon cutting ceremon
Highlights: Indiana Ave. and 10th Street Cultural Trail Expansion ribbon cutting on Indiana Ave. on Thursday, June 20, 2024, in Indianapolis.
Since its creation, the Indianapolis Cultural Trail in the heart of Circle City has drawn millions of residents and visitors to its distinctive paved path. But according to a new report, the trail isn’t just beneficial for those looking to get out on an urban stroll or bike ride — it’s a driver for the city’s economy and quality of life.
The report, “Indianapolis Cultural Trail: A Legacy of Gene and Marilyn Glick at 20: Connecting People, Places, and Possibility,” was based on analysis by James Lima Planning + Development, a group of real estate, planning and economic development advisors. Here’s what to know about the report.
How has the Cultural Trail affected the city’s growth, development?
According to the report from 2026, the 10-mile trail has generated $3 billion in assessed property value around its path — money that supports the city and its governmental services.
The population along the trail has grown five times the city average and retail space near the trail has increased 39%, the report shows. Nearby food and beverage sales are almost twice the average per square foot in Indianapolis.
Additionally, the report shows, undeveloped land along the trail has the potential to add $1.4 billion of value in the near future. Since an initial study in 2015, the trail’s economic impact has grown from $1 billion to $3 billion.
“For nearly 20 years, the Indianapolis Cultural Trail has helped transform Downtown Indianapolis into a more vibrant, connected and economically competitive city,” Mayor Joe Hogsett said in a June 3 news release. “It is more than a trail. It is a nationally recognized public asset that drives investment, supports local businesses, connects neighborhoods and improves quality of life for the people who live, work, play and stay in our city.”
According to the report, over 1 million people use the trail each year, and almost half of downtown Indianapolis residents live within a three-minute walk of the path.
What other features does the Cultural Trail offer?
Users of the Indianapolis Cultural Trail aren’t limited to walking — the Pacers Bikeshare program, operated by the trail, has 57 bike stations throughout the city that are accessible 24/7.
The trail also features nearly six acres of plants and greenspace, offering locals and visitors an urban getaway. City planners from across the world have visited the trail to study its design, according to the report.
What is the future of the Indianapolis Cultural Trail?
Focus on the Indianapolis Cultural Trail has shifted from construction and maintenance to long-term operations and expanded resources for the public.
Kären Haley, executive director of the Indianapolis Cultural Trail, Inc. — the trail’s nonprofit — said it has grown into the “crown jewel” of the city with the growth and development it has created over two decades.
“The Cultural Trail is driving billions in investment and making surrounding neighborhoods thriving destinations,” she said in a June 3 news release. “As we enter the next phase for the Trail, we look forward to building upon our initial 20 years of impact.”
Mia Thurow is the breaking news and criminal justice reporting intern for the Indianapolis Star. She can be reached at mthurow@gannett.com.
ICYMI: Top 5 IndyStar business stories in May 2026
A busy month at the Indianapolis Motor Speedway reignited debates about hotels and the downtown heliport. Plus, Eli Lilly celebrated 150 years.
May came and went, and with it, we saw the closest Indianapolis 500 finish in history, the 150th anniversary of Eli Lilly and a contested primary election day.
There’s also been some movement in retail news ahead of the summer shopping season. On the north side, a new women’s clothing store opened while a piercing studio set up shop in Speedway. Meanwhile, an indoor children’s play place opened on the near north side.
Read on for four spots that recently opened and one in Broad Ripple that said farewell.
Openings
Monkee’s
8659 River Crossing Blvd., monkeesofindianapolis.com, opened in March
Monkee’s of Indianapolis, a high-end women’s clothing store, opened recently on the north side in the Shops at River Crossing near the Fashion Mall. The brand Monkee’s started in the South three decades ago and has since grown to nearly 70 locations. In Indianapolis, Missy Llewellyn and Whitney Schmitt started the franchise to bring the clothing brand to the Circle City.
The Nest Play Cafe
515 E 22nd St Suite 101, indynestplaycafe.com, opened early May
The Nest Play Cafe opened at the corner of Central Avenue and 22nd Street, offering an indoor space for parents and caregivers to bring their children to play. Caregivers can book 90-minute play sessions for $15 per child over the age of one. Tickets for additional siblings run $10. The cafe sells coffee and snacks, too.
Open Monday, Wednesday and Thursday 8 a.m. to 4:30 p.m.; Friday 8 a.m. to 6:30 p.m.; Saturday and Sunday 8 a.m. to noon. Closed Tuesdays.
Forget Me Not Piercing Studio
5324 W. 16th St., jessflowerspiercings.square.site, opened May 27
A new piercing studio opened in Speedway at the end of May just days after the Indianapolis 500. Forget Me Not Piercing offers traditional lobe, helix and conch piercings along with nostril and septum piercings. Artist Jess Flowers opened the one-woman shop on 16th Street.
Open Sunday and Thursday 1 p.m. to 5 p.m. and Wednesday, Friday and Saturday 1 p.m. to 7 p.m.
Black Orchid Barbers Fountain Square
1201 Prospect St. Suite 100, blackorchidbarbers.com, opened in May
Black Orchid, a local barbershop known for its sharp haircuts with a side of humor, opened its Fountain Square spot, marking the company’s seventh brick-and-mortar location. Walk-ins are welcome but Black Orchid recommends grabbing a time slot online for your preferred service.
Open Monday through Saturday 10 a.m. to 6 p.m.
Closures
Vitality IV Bar
6302 Guilford Ave., vitalityivbar.com
An IV-wellness spot in Broad Ripple shut its doors last month. Vitality IV Bar was located next to the Thieves cocktail lounge, formerly the Broad Ripple Starbucks location, before it went out of business.
Vitality IV still operates an Indianapolis-area location on Mass Ave downtown at 749 Massachusetts Ave where customers can book a variety of infusions with vitamins.
See a store opening or closing near you? Contact IndyStar reporter Alysa Guffey at alysa.guffey@indystar.com.
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