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Out of the Ashes

This company faced sure disaster--but came out shining.

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This story appears in the September 2003 issue of Entrepreneur. Subscribe »

Things were looking bright for Michael Feldman and Jonathan Mafrice in the early days of their start-up, Pyramat LLC, in Los Angeles. Founded in 2000, their company designs and manufactures an innovative floor mat that folds into a chair for video game players. As avid gamers and recent college students, they knew there was a market for such an item. Says Feldman, "We were able to isolate a need."

By February 2001, the business was humming along nicely. Feldman and Mafrice, both 27, were manufacturing the Pyramat signature item and selling their wares at industry trade shows. They'd also just received their first significant purchase order from a big-name store, Bed Bath & Beyond.

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