In 2016, venture firm GVA Capital purchased the church for $7 million with the goal of converting the former house of worship into a startup incubator and tech event space called the Startup Temple. | United State Department of JusticeOdd Business IdeaThe Startup Temple was the brainchild of Pavel Cherkashin, a Russian businessman residing in the Bay Area. After launching, the Startup Temple held a number of tech-related events, including a TEDx talk, a rave and an “intercontinental startup battle.”Ultimately, however, it struggled to turn a profit. According to the San Francisco Business Times, Colliers is now attempting to sell it for roughly $7 million—essentially what GVA Capital paid for it. According to Axios’ sources, Russell was brought into the deal by GVA Capital president Musaev.

Source: Forbes June 27, 2023 13:47 UTC