
Flip Video: Wrong, Wrong, Wrong And Then So, So Right. - terpua
http://www.techcrunch.com/2009/03/19/flip-video-wrong-wrong-wrong-and-then-so-so-right/
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tptacek
They've taken $95MM over 5 rounds starting in 2002, much of that before they
had compelling revenue; between liquidation preferences and the equity bite
that implies, I wonder how big a payday this is for the original founders and
for the current key contributors.

If you aren't familiar with the company, an interesting sidenote: these folks
spent a couple years being a perennial hardware hacker target. Their business
model was getting cameras into people's hands way below cost, and charging
"for real" when you returned the camera and developed your pictures. Which (a)
didn't work and (b) provided anyone who could read a pinout and write some
Python with an $11 digital camcorder.

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pingswept
Also, they actually paid someone else (MindTribe, a former employer of mine)
to develop the Flip Mino, which was at one point their flagship product.

You can see the Mino in MindTribe's portfolio on their website:
<http://mindtribe.com/index.html>

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10ren
Great story. This style of exit strategy appeals to me, but I would find the
actual deal process of acquisition extremely daunting.

I think having Y-Combinator in your corner would be one of the truly great
benefits of being funded by them; their experience with what's what, contacts
with lawyers and so on, but mainly just the moral support (not trying to talk
them up; this article just struck me powerfully. For half a billion, it's
going to be serious negotiations).

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profgubler
I really liked this story. They definitely persevered. It is great to see
someone work hard, even when it doesn't workout at first, and still make it
big.

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ars
I have one of those CVS disposable cameras. It's great - you can give it to
kids without worrying they'd break it, and it takes great "snapshot videos"
perfect for emailing.

