On npr.org today, a Charlottesville-based Web business is highlighted as an example of how to survive the economic downtown.
Along with a business school classmate, 33 year-old Adam Healey founded the hotel search engine VibeAgent.com, which currently has 16 employees, two years ago. It consolidates rates and availability from scores of travel sites, and simplifies the process of finding a hotel in Prague or London or wherever.
To put it simply, Healey and company caught a break. Before the economic downturn hit, they, as npr.org says, "wrapped up a $3 million round of financing."
When asked by npr whether receiving such financing in the current economic climate would be more difficult, his answer was unequivicol: "Absolutely, it would be harder today."
On another note, VibeAgent’s plans for expansion have been tabled for now, and they’re just concentrating on making a profit.
"You know, last week we had a budget in place, which was focused on going out and raising another round of capital in 12 months," Healey told npr. "Today, that’s not what we’re going to do."