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What It Does: Platform for location-based games and tours
Founder: Seth Priebatsch, 20 (center)
Web Site: scvngr.com
Boston native Seth Priebatsch already had two ventures under his belt when he started SCVNGR as a freshman math and computer science major at Princeton in fall of 2007. His idea to create high-tech scavenger hunts played with mobile phones won Princeton's TigerLaunch business plan competition in 2008. Now more than 300 clients use the SCVNGR platform for location-based games and tours. It's popular with colleges running orientation activities, museums creating custom tours, and cities coordinating large-scale games to promote tourism (several have based hunts around hidden diamond rings). Clients pay anywhere from $500 a month for a small museum license to a one-time fee of $25,000 to run an intricate corporate event. SCVNGR has 15 full-time employees and is hiring fast. After launching last September, the company brought in $145,000 in revenue in 2008 and is on pace to top $1 million this year. The firm raised $860,000, including a $750,000 Series A round from Highland Capital Partners.