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Rochester-based start-up You Need My Guy recently announced receiving significant investment from NYC-based KAYWEB Angels, bringing them in as technical co-founders of his business. The unique model provides development services in exchange for equity.
You Need My Guy’s founder is Syracuse University graduate Joe Cassara. The company is in the business networking space. According to Joe, his company was one of three selected from over 200 other competitors to join the KAYWEB family. “I’m extremely impressed with the KAYWEB leadership team, and feel that the distinctive investment structure sets up You Need My Guy for huge success”. Currently in stealth development mode, Cassara says the beta version of You Need My Guy will launch sometime in 2012. KAYWEB Angels, LLC is an angel investment group based in New York City, providing development services and mentoring to web and mobile startups in exchange for equity. Since forming in 2011, KAYWEB has funded 6 startups. They just launched Who Is Green, an online directory of businesses that uphold the values of sustainability.
In a start-up environment that historically has seen a divide between Upstate ideas and Downstate investors, the partnership between Cassara and KAYWEB is a win for the Rochester region, hopefully leading to more of deals of a similar nature.