According to a recent report by Boston Business Journal, former CEO of Karmaloop Greg Selkoe could be back in the e-commerce business by the end of October. Following the high-profile coverage of the web retailer’s bankruptcy and the subsequent intense scrutiny the Boston native was faced with, Mr. Selkoe has apparently secured $1 million USD in seed funding for his latest venture which will not be a competitor to Karmaloop. Linking up with some of Silicon Valley’s brightest minds encouraged Selkoe to bounce back from his recent failures and channel his energy into something a little less risky. Though many details of his new internet business have yet to be released, style icon Nick Wooster is said to be involved. Stay tuned for more information on this story.