NETPODS searches for $1.5 million in start-up capital, expects big growth

The mother-daughter team behind NETPODS is ready to take on the country, it just needs $1.5 million. That's the price the Troy-based start-up needs to pay to start a national campaign for the online directory/search engine.

Chris Lakatos came up with the idea (originally called Network Pods) in 2005. She brought her mother, Linda Lakatos, on to run the money end of the company. The team has enjoyed a good bit of success locally but they're looking to expand.

"The first three years were pretty much out of pocket," says Linda Lakatos, business development partner with NETPODS.

But to take the firm to the next step takes more money than the change the two women can find in their pockets. They are looking to find an angel investor or two to help bankroll the firm's national rollout. They expect to firm up that start-up capital by the end of the year and launch nationally six months after that.

Doing so would allow them to hire 42 people directly and another 20 vendors within the first year. The numbers for employment would shoot up to 112 people within five years.

Linda Lakatos describes NETPODS as a cross between Yellow Pages and WebMD websites. They have 18.5 million listings on their server already and a number of other tools to help fledgling businesses get their name out to the right people. To do that now, they just need the one or two right people to help get them going.

Source: Linda Lakatos, business development partner with NETPODS
Writer: Jon Zemke

NETPODS searches for $1.5 million in start-up capital, expects big growth

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