Inc.com: Panos Bethanis Went $4.5 million in the Hole to Buy Back His Company

By: Hannah Clark Steiman

Panos Bethanis closed the front door of his house in Boston's South End at 2 o'clock on a bitterly cold January morning in 2007. Eleven friends and colleagues, exhausted after a marathon meeting, had just filed out the door. Bethanis had invited his buddies over that evening to pitch them his strategy for buying an online directory business called DirectoryM. He had founded the company five years earlier but had sold a majority stake to a pair of venture capital firms in 2005. Now, with the company struggling, Bethanis saw an opportunity to get his company back.

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