Founded in 2010, the callabassas startup, Whiteyboard, aims to transform traditional whiteboards into sticks
On the sheets and transparent clotherase paint.
While there may be a problem with their name, their supporters are not-investors include billionaire Mavericks boss Mark Cuban and co-invested Bill Liao
Founder of social networking xing. com.
Whiteyboard made a series of great-
On the whiteboard, including the ghost board, this is a clear writing surface that can attach almost any material.
According to its founder, the whiteboard can be recreated
At least six times.
Their most popular product is a clear dry paint for $75, turning a 30-square-foot wall into a whiteboard.
It takes 3 coats and 12 hours to dry compared to rival IdeaPaint, IdeaPaint takes 4 days to heal and 50 square feet for $225.
Starting with $500 from university partners Saachi Cywinski and Jason Wilk, Whiteyboard now earns $5000 a day through their online store. Their stick-
About the sale and Thinkgeek of Urban Outfitters that delete the table.
Whiteyboard, already available this year, reminds us that a simple idea-good relationships-provides a lasting business model.
Cywinski, 24
Australian company aged
The founder of Whitter's board of directors, who once dated Khloe Kardashian, believes Adderall transformed his ADHD high school self into a successful college student.
After the floor is reused-to-
Cywinski purchased some ceiling whiteboards at the Library of the University of malemont, his alma mater.
"I love them," Cywinski explained . ".
"I think it's everywhere, but it's too expensive.
"Traditional whiteboards also need to be drilled on the wall-college students with margin payments are reluctant to do so.
The couple saw a low gap in the market.
Cost whiteboards that meet the needs of students and small businesses.
After setting up a website and finding a Chinese manufacturer, whittboard sold $20,000 worth of products before the first order was completed.
In June 2010, the two raised $500,000 in a round of seed financing led by technology investor Bill Liao, who has already made eight public.
Wilk is an experienced entrepreneur and andY combinator has been involved in the work of 14 fire, a video advertising company backed by mark Cuban, which doesn't hurt.
Wilke founded his first company during his college years, a website that provides daily transactions in sporting goods.
Wilk sold the site to a group of private investors in Orange County on 2007 for undisclosed prices, at the age of 22.
"It's not 7 digits, but it's a great graduation gift," Wilk said . ".
Wilk first met Cuban in 2008 as a technical blogger.
"I wrote an article about 10 ways to get Mark Cuban to invest in your company.
I saw him out at a bar that night and I walked up to him, "explained Wilk.
"Since then he has been in touch with me and he is there when the whiteboard starts the second round.
In December 2011, the two drafted an initial email to Cuba, which had invested $150,000 by February 2012.
Most of the money is spent on redesigning the product packaging.
"He really likes to invest in this person," Wilk explained . ".
"He's too efficient.
He just knows what to do.
Cuban, which holds a 20% stake in the company, diluted Wilk and Cywinski's participation to 27. 1% each.
The company's modest valuation makes its stock worth about $212,000, which is not bad for an initial investment of $250.
Whiteyboard currently consists of three full-
Time employee, Wilk is now focusing on 14 fire.
Now, Whiteyboard is looking to expand into the retail space specifically for construction and interior design companies.
Will Cywinski consider selling his shares? “Possibly.
ButWarrenBuffet always said: "No matter how great the asset is, it is never worth an unlimited price.