- Posted April 5, 2014 by
cedar rapids, Iowa
Iowa Inventor Walks Away From Venture Capalists And Leaves Millions On The Table
The owner of a small tech company in Cedar Rapids, IA made a bold financial move recently that would be hard for many to do.
Todd Dooley, the inventor of the Wi-Ba (a self-powered wireless battery charger for Apple and Android devices), has walked away from millions of dollars worth of startup money from venture capitalists. Dooley says, "I know the potential market value of the Wi-Ba, and I have zero interest in handing over roughly half of my company for a couple million dollars. I feel highly confident that the Wi-Ba will become the new standard in mobile battery charging worldwide".
Dooley indicated that he has opted to put up a sizable portion of the capital himself and may look to the crowd funding site Kickstarter to help make up the balance.
Whether Dooley is able to accomplish this feat is yet to be seen, but I will continue to follow the upcoming developments of this motivational story.
For additional info on the Wi-Ba, visit www.wi-ba.com