A thorough investigation has enabled the optimization of the synthesis of 1,4-dihydro-pyrrolo[3,2-b]pyrroles. Although salts of such metals as vanadium, niobium, cerium, and manganese were found to facilitate the formation of 1,4-dihydro-pyrrolo[3,2-b]pyrroles from amines, aldehydes, and diacetyl, we confirmed that iron salts are the most efficient catalysts. The conditions identified (first step: toluene/AcOH = 1:1, 1 h, 50 °C; second step: toluene/AcOH = 1:1, Fe(ClO4)3·H2O, 16 h, 50 °C) resulted in the formation of tetraarylpyrrolo[3,2-b]pyrroles in a 6-69% yield. For the first time, very electron-rich substituents (4-Me2NC6H4, 3-(OH)C6H4, pyrrol-2-yl) originating from aldehydes and sterically hindered substituents (2-ClC6H4, 2-BrC6H4, 2-CNC6H4, 2-(CO2Me)C6H4, 2-(TMS-C≡C)C6H4) present on anilines can be appended to the pyrrolo[3,2-b]pyrrole core. It is now also possible to prepare 1,4-dihydropyrrolo[3,2-b]pyrroles bearing an ordered arrangement of N-substituents and C-substituents ranging from coumarin, quinoline, phthalimide to truxene. These advances in scope enable independent regulations of many desired photophysical properties, including the Stokes shift value and emission color ranging from violet-blue through deep blue, green, yellow to red. Simultaneously, the optimized conditions have finally allowed the synthesis of these extremely promising heterocycles in amounts of more than 10 g per run without a concomitant decrease in yield or product contamination. Empowered with better functional group compatibility, novel derivatization strategies were developed.