Without funding, Searle returned with his wife and children to his family's farm in Indiana. Chen stayed on the East Coast, in West Orange, New Jersey, closer to the money that would eventually give life to their dream. The million dollars the partners sought was hardly worth the firm's bother. But the power of the idea, coupled with Searle and Chen's earnestness, convinced the firm to take a leap. A second round of venture capital has since been poured into the business, which now counts giant Comcast Cellular as a strategic partner.
Plans call for CD to be rolled out in major metropolitan markets nationwide by year-end.
But the money-raising hasn't ended. In fact, it's just started. We're always refining ourselves and how we present the opportunity in order to find partners willing to fund our growth. Without proper groundwork, he says, their efforts are often for naught. What follows is a primer on getting everything ready to begin dialing for dollars.