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.