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JEFF BUCKSTEIN

THE CHALLENGE: ‘Two guys with no revenue’ learn a venture-capital lesson

Customers carry a card or keytag and scan it to earn rewards. The company also offers a quick-pay component with auto-reloading capabilities. Business owners receive detailed information to track usage among customers. Mr. Bailey says the business is doing well, drawing “millions” in revenue. What he isn’t so certain about, however, is when a young business like his should seek outside funding. To date, Spoonity has raised about $500,000 through self-financing and government grants, includingRead More