Dec 3, 2009
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What keeps an entrepreneur up at night?
Well the list is pretty long and might possibly include:
* Deciding between various options for raising capital ... but giving up equity and control in the process!
* Dealing with vendors that you've outsourced to for product development!
* Spending so much time away from your family to run the venture!
* Tripling the number of company employees!
* Investing all of your savings in the venture ... and not being paid for several months!
Well Manoj Ramnani has had to deal with all of these. Manoj is the Founder and CEO of DubMeNow, a mobile tech venture based in Vienna, VA.
DubMeNow is a business card exchange platform that allows easy information exchange between mobile phones. But the company has also penetrated the university market by allowing the distribution of various content to students' cell phones.
In total the company has raised $2,000,000, most of which has gone to product development and marketing. Since Manoj is one of our featured entrepreneurs, we'll be following his and DubMeNow's progress over the next several months.
It looks to be a real interesting ride as he and his cohorts reach near that magical 1,000,000 user milestone and attempt to turn DubMeNow into a viral success!
Manoj's biggest mistake in the last year:
Depending on outside vendors for product development work!
Manoj’s Looniest Moment:
Deciding whether to raise an additional $5,000,000 and give up lots of equity or raise a much smaller amount and keep a larger ownership of the firm ... but risk being under-funded!
So what are you waiting for? Listen to the interview to hear Manoj Ramnani's story and his fund-raising travails!
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