The $32,000 Startup

After graduating from Harvard Law School in 1999, David Park founded discussion forum service Coolboard.com. It took more than a dozen software developers, product managers, and quality assurance staff 18 months to build the company's core technology. To fund it, Park raised $10 million in venture capital, of which $4 million was spent before the company was launched. It went down in flames in 2003, a casualty of the dot-com bust.

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