Livespeakr for iPod
(Post: English)
Undaunted by the competition, childhood buddies Erik Groset and Robin DeFay, now both 25, have added another device to the lineup: Livespeakr, a petite but powerful (15-watt) portable speaker system designed to blast tunes from the iPod, iPhone, or any other device with a headphone jack.
Originally, the duo hoped to license the concept to a manufacturer. Good thinking - since neither has background in audio engineering or product design.
To get feedback, they posted 3-D drawings of the prototype on a Web site they built and elicited interest from peers and investors.
So in 2007, Groset and DeFay, who had kicked business ideas back and forth since sixth grade, decided to try to make the product on their own.
Two years later, with the help of $400,000 from two angel investors, an outsourcer who set them up with a manufacturer in Shenzhen, China, as well as $50,000 investment of their own savings, the pair started selling their speakers via their Web site and Amazon in January for $80.
They say their Carlsbad (Calif.) Digital Group Audio has doubled sales month to month, selling a total of about 4,500 units, and expect $600,000 in revenue by the end of the year.
Source: BusinessWeek
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