Wednesday, October 17, 2007

Venture Capital Firm

When the seed for TextWorks was planted at the Boston College Venture Competition, one of the judges Alex and Miles met was a venture partner at a very prestigious venture capital firm. This was a contact the guys did not want to lose - so once A&M felt more confident about their business plan, they decided to take the leap and contact him.

The venture partner was surprised that they had actually committed to continuing the idea and invited them in for a meeting. A&M were simultaneously thrilled and confused: why would a top tier venture capital firm spend time on them? But this meeting was definitely the way to find the validation the guys were craving.

Miles' mid-week commute to Boston was well worth it. The firm, which has taken companies such as MapQuest.com and Staples.com public, sees hundreds of business plans each week. Nonetheless, the group of venture capitalists surprisingly treated Alex and Miles like any other businessmen -- which was like royalty compared to recipients of other presentations!

After a positive two and a half hour long meeting, the guys walked out with the only thing they could've hoped for - a follow-up on October 23rd. This meeting is now just mere days away. Wish them luck!

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