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Earlier quoted context omitted.
Omnisio only had funding from YC, no other funding rounds.
If Techcrunch is right, Chris Sacca was part of a seed round. http://www.crunchbase.com/company/omnisio
That's interesting though. Sacca is an Omnisio advisor, and also was the Director of Special Initiatives at Google.
Congrats! Just for my education: say that TechCrunch is correct and they did sell for $15 million and that YC took 6% equity in the company. Does that mean that that YC gets a $900,000 payday too? Or is it more complicated than that?
Wow, this is really good news. Omnisio, how long did it take you from the inception of the idea to selling it? Why did Google/Youtube spend $15mil acquiring the company instead of creating a similar service? I think more than the technology itself, Google would like to hire the Omnisio team.
When you make an acquisition, you inherit not just code, but you inherit the massive amounts of iterations the product went through. That's part of the problem these days: everyone looks at a product and they forget the painstaking amount of time and dedication that went into getting it that far. It took a lot of sleepless nights and coffee.
Not to mention, you're inheriting the users (which also have an acquisition cost, even to Omnisio, it may have been going around and talking to people individually about feature requests and bugs, etc).
In addition, you're acquiring the talent behind the startup. These are people who not just understand how to code, but they develop products with the user in mind. They have the determination and persistence to get updates done and out the door. If you sit these guys in front of a board, or in front of investors, they have already proven that they will not flake out or give up. This is something that sounds trivial, but a lot of people lack the self-motivation to direct a project like this into completion and market adoption.
I'm missing a lot of other things, but that gives you an idea that the startup you look at is far more than just pages that show stuff.
Also, major props to the really strong UI work at Omnisio. UI is becoming one of the most overlooked aspects of technology. People focus a lot on the engineering or code or architecture or scaling, but forget that the usability is really what makes it enjoyable to use the product in the first place.
Wow! That is awesome... they're like what 14 months old? So awesome.
Earlier quoted context omitted.
Omnisio only had funding from YC, no other funding rounds.
Did they have multiple rounds of funding from YC or did they make it this far on the initial money? Seems hard to believe that could tackle the scaling issues with $10K or $15K
Doubt they had any scaling issues with virtually no traffic.
I assume they did an angel round and took tens/hundreds of thousands of dollars. Probably just so that they could afford to pay for salaries and whatever minimal necessities they had.
Well done all at Omnisio!