Startups What happened at the last startup you saw fail? |
- What happened at the last startup you saw fail?
- Is founding a tech startup the best option?
- Should I just launch the MVP and forget about the rest?
- Resolving a startup founder dispute when mediation/buy out failed
| What happened at the last startup you saw fail? Posted: 29 Jan 2022 07:17 AM PST Just reading this comment , I'm reminded that we need to remember that most startups don't succeed. To balance our view of startups, tell us what you've seen that didn't survive. [link] [comments] |
| Is founding a tech startup the best option? Posted: 29 Jan 2022 06:18 AM PST It seems that founding a tech startup is easier to get funding for, and more potential for increasing its valuation. I see many tech entrepreneurs creating an app service then selling it 5 years later for millions. Therefore do you recommend focusing on tech related opportunities first? Or can non-tech startups be just as successful/lucrative? [link] [comments] |
| Should I just launch the MVP and forget about the rest? Posted: 29 Jan 2022 09:58 AM PST I've been building a web app...for already too long. It's been 8 months but should have been less than that (and I haven't even completed it yet). My 9-5 job had kept me from fully focusing on building. I found a payment gateway service that would fit the industry of my web app, however, I don't have a limited liability company/corporation yet. I was wondering how risky it is to make the payments/transactions functional whilst being a sole proprietor and having no legal structure in place. I've read that privacy and terms of service are crucial, but that's not costly to create. My concern is more about accounting, invoices, and other legal chores. Should I just remind myself that the main problem is not being found out, but not being found out at all? Thanks in advance. [link] [comments] |
| Resolving a startup founder dispute when mediation/buy out failed Posted: 29 Jan 2022 07:19 AM PST I am one of three founders of a dating app for an ethnic community. We launched in January 2021 and have about 1000 daily active users, and about $200/month in revenue. We could have more revenue (we haven't launched paid features on iOS yet), but have stopped development 6 months ago due to some disagreements. Myself and the technical co-founder think the the 3rd co-founder (who focused on marketing, coming up with the brand name for the app, etc.) isn't pulling their weight and were very difficult to work with. We've tried resolving things but would rather move on without them. We tried offering to buy them out at a valuation of $50K (They'd get $16.6K) but they refused. They said they feel like they were the driving force behind the project and now they are getting abandoned. We've been in mediation for the last 6 months, including mediators, lawyers and still haven't been able to resolve it. The third founder is willing to agree to dissolve the company, but wants us to sign a non-compete that we won't start another app in the same space. Or if we start an app in the same space the UI has to be completely different. We feel this is really unfair to our users and to our own ambitions. The options we see are
They said they would sue if we start another app on the grounds of us violating fidicuary duty. Our lawyer said if we shut down for a year and then restart, the grounds for filing a lawsuit will be almost nil. 2) Keep the ownership at 33% but basically hire ourselves so the profits more accurately reflects the work going in. 3) Keep mediating This has been a bit of a headache mentally and I just want to move on, but don't know exactly what is the best path. It sucks that the app is working well, and I feel bad for the people who will not be able to meet if we have to shut down this app for 6 months. Appreciate any thoughts or advice! [link] [comments] |
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