Technically Philly: How DormNoise Founder Jay Rodrigues Raised $500,000 From His Dorm Room

Editor’s Note:  This post originally ran on Technically Philly and is re-purposed here with permission.

Two years ago, DormNoise Founder and CEO Jay Rodrigues was fed up with Facebook before it was the cool thing to do.   As the Rhode Island-native was graduating high school and transitioning to life as a student at Wharton, he saw all of his high school teachers had begun to friend him on Facebook.  “I thought it was kind of awkward, I wasn’t sure how much of my college life I wanted to share with them,” he says.  He then sought out to build a more closed social network for college students, eventually fine-tuning the idea as a closed online calendar for students. By his first semester of Penn, Rodrigues raised $200,000 from friends and family before raising a second round of $500,000 this month.

So how does a college freshman have an extensive enough rolodoex to raise two rounds of funding before he can buy a beer and before signing more than five major customers?

Read the rest here on Technically Philly. . .

Chris McDemus is founder of VC Deal Lawyer, a blog devoted to providing insights on start-ups and emerging growth companies.  Chris is also founder and owner of MCD Law Partners, LLC, a boutique corporate law firm serving start-up, early-stage and emerging growth companies.


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