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What it does: Software development
Founder: Brian Pedone, 26
Web site: www.abpsoftware.com
Based: Stroudsburg, Pa.
Then: Brian Pedone was running software development firm ABP Software and boxing gym Pedone's Heavy Hitters, which he considered a sideline business. ABP Software's flagship product, NeedMyPassword.com, was designed to allow inexperienced software users to store and retrieve their passwords easily. Pedone said ABP had $50,000 in revenue in 2007 and would be profitable by January 2008. The gym's revenue was negligible.
Now: Pedone sold NeedMyPassword.com to a developer in Canada and launched MobilePassword.com in its place. The new application allows users to retrieve their passwords via their cell phones. Pedone landed a contract with a local university to distribute the application to its 7,000 students. He also partnered with another development firm in Stroudsburg to produce project management software and promote the new password application. He says revenue topped $75,000 in 2008 and estimates it will leap to $10 million in 2010. He's in the process of turning the boxing gym into a nonprofit for area youth.