Disclaimer: Three of us are building a pet project that has some similarities with Color. One big difference - all user generated content is private by default.
That out of the way, we are certainly envious about the 100-200 million dollar evaluation they got on day one. With about 4k spent so far, in our case and with three of us chipping in any extra time we have (me - any extra time I have outside of lurking here), we are still a couple of months away from a MVP that will make us cringe ever so slightly when we see how far we will have to go. Till then, no real sleep, and a lot of heartburn. Still, its good to see Color validating some of what we do, but in the end, we both will have to prove there is a market. We however can afford to fail early and not give any VC's any heartburn, just our own families.
One thing is for sure, we do not plan to build sonar capabilities. We dont have the knowhow and I am not sure that will be the make or break for us anyway.
We also dont have the same pedigree, and therefore its clear that VC's will not be snapping at our heels (But we go back six years, all three of us). We are ok with that, but heck..41 million is a lot of money.
As the weeks peel away, I hope to share here on HN where we stand with the product and hopefully even line up some kind souls here who will be willing to beta test for us in return for some good karma. We cant afford to pay (please refer back to the 4k burn total).
We however have some ideas on how we plan on monetizing. We plan on finding out as early as we can, whether our ideas coincide with real needs from local businesses.
Right now, I am shamelessly stopping people on the street, as they veer away, ignore, stare, and sometimes stop and tell me what they need and what they want. I do this as behind the scenes we toil away on building something that in the end we can be proud of.
In all fairness, right now, they have a far more capable app, employing 9 times our current strength and vastly more capital and brain power. In the end, may the best viable product and company win.
That out of the way, we are certainly envious about the 100-200 million dollar evaluation they got on day one. With about 4k spent so far, in our case and with three of us chipping in any extra time we have (me - any extra time I have outside of lurking here), we are still a couple of months away from a MVP that will make us cringe ever so slightly when we see how far we will have to go. Till then, no real sleep, and a lot of heartburn. Still, its good to see Color validating some of what we do, but in the end, we both will have to prove there is a market. We however can afford to fail early and not give any VC's any heartburn, just our own families.
One thing is for sure, we do not plan to build sonar capabilities. We dont have the knowhow and I am not sure that will be the make or break for us anyway.
We also dont have the same pedigree, and therefore its clear that VC's will not be snapping at our heels (But we go back six years, all three of us). We are ok with that, but heck..41 million is a lot of money.
As the weeks peel away, I hope to share here on HN where we stand with the product and hopefully even line up some kind souls here who will be willing to beta test for us in return for some good karma. We cant afford to pay (please refer back to the 4k burn total).
We however have some ideas on how we plan on monetizing. We plan on finding out as early as we can, whether our ideas coincide with real needs from local businesses.
Right now, I am shamelessly stopping people on the street, as they veer away, ignore, stare, and sometimes stop and tell me what they need and what they want. I do this as behind the scenes we toil away on building something that in the end we can be proud of.
In all fairness, right now, they have a far more capable app, employing 9 times our current strength and vastly more capital and brain power. In the end, may the best viable product and company win.