I was part of a start called ClassMap (based in Austin, Tx) in 1999 -
2001.  Blackboard was one of our main competitors.  In November 2000 we
had another round of investors get involved gave us a $500,000 and told
us to get everything ready to roll, There will be another $3 million in
January, so we spent all of the money on everything we needed.  January
28th we get a call and they tell us they have reconsidered and are
pulling out.   We barely had enough money to make payroll, had to shut
the doors two days later.


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