31–40 of 209 posts
Is that intentional? Because I would think with $3.5M in funding, you can hire professional photographers, models and stylists to make the photos and the videos. And a webdesigner to make the site.
The appstore pages look better. And you have good ratings from thousands of users. So why do you want to close it down? How many users do you have and what are your running costs?
As someone who is interested in one day starting my own business, I have nothing but respect for someone who has the guts to follow through with that and pursue their vision. That being said... why did you (or if anyone else can chip in) decide to chase funding when you didn't have a business model? Maybe I'm being naïve here, but isn't it kind of crazy to raise 3.5M in funds for a business that has no plan but to be…
Looking at your own brand homepage, my impression is that it is too technical. I had expected to see many instagram-like pictures of people who demonstrate that they have managed to dress better by using your product. Isn't your value proposition that people can dress better? Maybe I have overlooked it but I think you have the perfect software to run an online shop. Pay influencers to use your product and viewers who…
The consumer website is chicisimo.com :)
Also would have preferred a browser extension and website for the reverse image searching.
That’s an interesting article. To me, that company should have been really valuable and done really well especially in the retail clothing industry. I wonder if it’s more luck and connections than anything that has to do with product when forming a company
> we haven’t found a relevant business model
> We are a team of 8. We are 2 full-stack, 1 iOS, 1 Android and 4 product people.
It's a bad sign if your company is 50% product people and you can't establish product-market fit, especially with a "whale" for a competitor.
I guess it wouldn't be unheard of for a conglomerate like LVMH to acquire, but I'm not sure there's enough traction to justify a scenario like that.
Earlier quoted context omitted.
GP is trying to subtly let you know that you've significantly reduced negotiation leverage with any potentially interested party. There no benefit to you to publicly state your cash position.
Any interested party will get access to the books and have that information anyway.
But hey - we all got an interesting read out of it.
As someone who is interested in one day starting my own business, I have nothing but respect for someone who has the guts to follow through with that and pursue their vision. That being said... why did you (or if anyone else can chip in) decide to chase funding when you didn't have a business model? Maybe I'm being naïve here, but isn't it kind of crazy to raise 3.5M in funds for a business that has no plan but to be…
"Maybe I'm being naïve here, but isn't it kind of crazy to raise 3.5M in funds for a business that has no plan but to be acquired by someone else?" That's a sane question. IMO it's the current financial environment that encourages such "leap without looking" strategies. Fear of missing out is huge right now. I know of a startup that received a multi-million valuation and many more million in funding. They don't even…
What's changed is that debt is almost free. That allows VCs to take (very!) speculative bets for relatively low risk. They know that if each of their portfolio companies has a 10% chance to reach 30x returns, investing in 10 companies should pay off.