Loyola Marymount University finance major Saachi Cywinski ’10 loved using whiteboards to put up his formulas when he studied for finals. However, he hated having to find a room that had a decent whiteboard. He hated even more the price of purchasing one for his personal use. Jason Wilk ’07 had a similar experience buying whiteboards for one of his start-up companies. The two entrepreneurs, along with business administration major Sherwin Kim '09, joined together to create and develop WhiteyBoard, a stick-on, peel-off whiteboard, which was released earlier this year.
“The Whiteyboard is for business owners, creative people and students. It’s for anyone else who might use a whiteboard, which is pretty much everyone,” said Wilk, an international business major and minor in music.
According to an article in the New York Times, WhiteyBoard.com surpassed $70,000 in online sales in its first six months. This led to the company receiving approximately $500,000 in seed funding in June from Bill Liao, founder of Xing.com, a social network for business professionals in Europe. WhiteyBoard plans to use the seed money to expand sales internationally and hire staff.
“Mr. Liao approached us because he liked the idea of a simple product,” Wilk said. “The WhiteyBoard is a low-cost alternative to the traditional whiteboard.”
Wilk launched his first company, 1daysports.com, a deal-a-day site for golf products, during his senior year at LMU. He said he knew he wanted to become an entrepreneur when he sold the company after it made $100,000 revenue.
“Being an entrepreneur gives you the freedom to do whatever you want,” Wilk said. “There is always something new and you get to wear multiple hats. If you don’t like the idea of doing just one thing, then being an entrepreneur is probably a good idea for you.”
Photo: Courtesy of WhiteyBoard. Saachi Cywinski (left) and Jason Wilk (right)
Posted: Aug. 23, 2010