InDinero, the Company Profiled in the Opening Feature for Chapter

question 36

Multiple Choice

inDinero, the company profiled in the opening feature for Chapter 10, is described by its cofounders as "the fastest way for small businesses to manage their finances." Which of the following is not true about inDinero's founding story?

• A) In 2009, inDineor's founders applied to TechStars, which is a Boulder, CO-based seed-stage fund/incubator, and were turned down.
• B) The idea for inDinero originated in mid-2009 while its cofounders were still in college.
• C) In April 2010, the founders of inDinero applied to Y Combinator, an organization that provides seed-stage funding, mentorship, and networking opportunities to participants, and were turned down.
• D) inDinero reportedly has over 15,000 users .
• E) In late 2009 and early 2010, the founders of inDinero tried to raise angel funding and were unsuccessful.

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Definitions:

Self-awareness

An understanding of one's personal attributes, feelings, intentions, and aspirations.

Deindividuation

Deindividuation is a psychological state occurring in group settings that leads to a reduction in self-awareness and an increase in impulsivity and deviation from typical behavior, often resulting in actions not typically exhibited alone.

Self-discrepancy Theory

Higgins’s theory about the consequences of making actual – ideal and actual – ‘ought’ self-comparisons that reveal self-discrepancies.

Festinger

Leon Festinger was a psychologist known for the theory of cognitive dissonance, which describes the discomfort felt when holding conflicting thoughts or beliefs.