CampusLive
What it does: Produces college-specific portals for students
Founders: Jeff Cassidy, 24 (front row, right); Boris Revsin, 23 (front row, center); and Jared Stenquist, 24 (front row, left)
Web site: www.campuslive.com
Based: Amherst, Mass.
Then: CampusLive, a developer of Web sites that link students with campus services and local businesses, employed five full-time employees and a handful of interns. It had just over $100,000 in revenue in 2008, and the founders expected it to be profitable by January 2009. They were in the process of negotiating a $1.25 million seed round with angel investors.
Now: Steinquist says the company didn't secure funding from angel investors "because of the economy" but has expanded to over 60 universities. He plans to include 40 more this fall semester and expects the service's 50,000 registered users to quadruple by the end of the year. The company landed advertising deals with major brands such as Coca-Cola and the Marines, doubled its office space in Amherst, and now has nine full-time employees. It's still not profitable, but Stenquist expects $250,000 in revenue this year.
