The magical period of time for start-ups
How long does it take for a start-up to be successful? I don’t know but I have some ideas. One idea is that I’d like it to happen faster. We all would and that’s why we consumers provide the ammunition for people to keep writing about sites like YouTube. One day they’re not even a company and the next day there are rumours of buyouts for billions. We all want that so we buy magazines at the airport with pictures of soon-to-be web 2.0 billionaires in hopes that we can get a glimpse of how they did it.
Here’s my view. It ain’t gonna happen that way. Sure, it can happen that way just like when people win the Washington State Lottery. But, that doesn’t happen very often and that’s an understatement. thePlatform started in 2000 and finally sold in 2006. AtomFilms started in 1999 and finally sold in 2006. Look at Divx. Been around forever. The list goes on and on and on. Now, in fairness I’d have to acknowledge that RealNetworks was founded in 1994 and went public in 1997. Just three years. But, if you look back on the tech sector that is actually very rare. From my (not so clinical) perspective, I’d say 5-8 years is about what you’re in for. What I’m willing to bet is that it’s not 1-2 years. You can’t build a company around the notion that you’re going to exit in two years. That’s of course very different than saying it is impossible to sell a company in 1-2 years. That happens. But, when that happens it is because a company buys another for its demonstrated potential and unrealized gains earlier in the process than normal. Someone told me the other day that 7 years was the magical number. Maybe true. But I’m pretty sure its not 1-2.
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