MUSB Freshman Raises $1 Million: Her Startup Stores Passwords in the Cloud

Stacey.jpgStacey Ferreira (UG ’15) had always been fascinated with business and technology. From a young age, as she would pretend to own her own restaurant in her living room, it was clear that entrepreneurship was in Ferreira’s future. Last summer, when she raised $1 million in venture capital for her startup MySocialCloud, it became clear that Ferreira had indeed become a successful entrepreneur.

“I had been dabbling in code for a couple of years when the idea really started” says Ferreira. During her senior year of high school, her brother’s computer died, taking with it an Excel spreadsheet of his various passwords. It was frustrating that he was unable to access his email or Facebook because he could not remember all of the different passwords. The two siblings decided then and there to create a service that stores all of that information in the cloud, making it accessible from any computer. On May 26, 2011, after a period of trial and error, Ferreira, her brother and their team created MySocialCloud.

Ferreira says that finding a great team was the biggest challenge when first starting out, and that it was difficult to find reliable yet passionate and visionary people. “But probability says that if you look for great people over a certain amount of time, you’re bound to find people that work – in the past couple of months, we’ve been extremely lucky!” Now that MySocialCloud is up and running, Ferreira’s biggest challenge is finding a way to balance the excitement and work that comes along with a startup, a social life and attending class with her completed homework in hand. So how does she balance it all? “Plain and simple, I love what I’m doing. I love the possibilities with MySocialCloud and seeing people get excited about using it, and I love Music Business.”

Though still in beta testing, MySocialCloud has developed into more than just a storage site for usernames and passwords. “MySocialCloud is all about sharing websites that you love with your friends and being able to access them easily and securely through our one-click login.” On Friday, February 10, the new MySocialCloud will launch – “with an awesome design” – through invites only. “From our launch we’re hoping that people will give us constructive criticism about the website and use that to keep making it even more awesome” says Ferreira.

To students aspiring to be entrepreneurs, Ferreira says this: “If you want to do something and have a passion for it, do it. Don’t wait until you’re done with school. A college degree can be a safety net; it doesn’t have to be the one defining factor of the rest of your life. I’ve found that you find time for the things you’re really passionate about, and everything else pretty much gets postponed. The most rewarding thing about MySocialCloud is definitely the people I’ve been able to meet through the process. Everyone has something to share and something to learn from – so just listening to them and soaking up knowledge is more than I could ever had asked for.”

Get connected with MySocialCloud on Facebook and Twitter.