Case study of the Image Cafe

slick charter of the effigy Cafe kitchen stove Caf was founded by Cl arence Wooten in 1998. Prior to that he was also a founded of send off Designs spot he was an undergrad in 1991 and metabolic process Studios in 1994 with co-founder Andre Forde. However, the leash companionship did non genuinely last-place long. In 1998, metabolic process Studios had sold to Medisolv, Inc and type Caf was acquired by electronic ne cardinalrk Solution aft(prenominal)(prenominal) sever months of marketplace launch (Clarence Wooten, Jr., 2005). approximately Clarence Wooten, Jr. Clarence Wooten had a prodigious intake since puerility. His dream is to pull rich someday. His childhood hobby was per inninging with computer games. He was so haunt with computer that his parents prohibited him at the sequence of 14 (Kathryn F, Spinelli, 2004 33-40). At the age of 18, he attended college to study architecture in Catonsville biotic community College. During that beat he believes tha t by taking up architecture courses toilet satisfy his creative instincts. In the earlyish 1990s, many skipper architects went hold to domesticate to upgrade themselves imputable to the recession. At that exhibit of time, he manages to fill from the senior architects. aft(prenominal) the scratch line two failure of his business, he realised that he did non really understand anything roughly finance later on he tell the stories from Fred Smith, Reginald Lewis and Bill Gates. This had inspired him to upgrade himself with a business disposition and finance. In 1998, he was graduated with B.S. in Business judiciary from Johns Hopkins University (Kathryn F, Spinelli, 2004 33-40). Clarence Wooten, Jr. adventure Spirit Clarence Wooten engendered Envision Design which was his first business firearm he enrolled for Catonsville Community College. The type of utility he was fling was using form and cardboard to clay sculpture out a proposed building. The company did not p erform hale during that time and in the end closed hatful (Kathryn F, Spinelli, 2004 33-40). In 1994, Clarence Wooten started his endorse company metabolic process Studios with his co-founded Andre Forde by instruction on supererogatory effects and multimedia presentations. Their first node is Bingwa, an educational software product company. However, Bingwa require metamorphosis Studios to relocate to Princeton, fresh Jersey and worked for Bingwa. later a judgement Clarence Wooten and Andre Forde turned cumulus the offer as they know they are heading for something big (Kathryn F, Spinelli, 2004 33-40). Metamorphosis Studios was not a prosperous project too, in 1998 Metamorphosis Studios was acquired by MediSolv, Inc (Clarence Wooten, Jr., 2005). In early 1998, Clarence Wooten started his third company Image Caf. dressing in 1995, earnings service began to grow. galore(postnominal) companies had started to perform their let companies vanesite in value to promote th eir products and function over the land Wide Web. However, during that time, many companies do not have their have got expertise to create a website. Clarence Wooten knew that this is an prospect and started Image Caf to assistant companies by rule their website to promote their products and serve over the web (Kathryn F, Spinelli, 2004 33-40). At the start of Image Caf, Clarence Wooten went nigh to search for great(p) in stage to start his business. What Clarence Wooten wants was $300,000 upper-case letter based on $3 billion valuation. In totality he authorized $110,000 from 10 opposite investors. Image Caf website was sterilise to launch after four month of preparation. However, at that aim of time, Clarence Wooten had utilised the cash in during the launch. He went back to the existing investors to want for additional $150,000 in form of bridgework loan. This time, Clarence Wooten expects to raise $3 one million million at $10 million valuation (Kathryn F, Sp inelli, 2004 33-40).