Quite meticulous analysis of recent failure of startup, Everpix, to secure required Series A funding. I esp. liked the point Andrew Chen made in his post that many startups try to be like Apple, thinking Apple is very much just product-oriented. He says (thinks) it is not entirely true. Here’s the excerpt:
It’s funny that people take the lesson away from Apple that you should just focus on product. That’s only half the story, I think, because when you dig into why Apple is so secretive, it’s because the company is really focused on advertising and product launches. The secrecy that’s so deeply embedded in the organization facilitates their distribution strategy- can you imagine building your company culture around your marketing strategy?
For any startup to become a successful company, I believe there are 3 primary stages, Create, Build and Execute. Many fail at the Create stage, by assuming it is only about creating the product. To be a successful company, you should be busy creating the business, in other words, creating the customers. That happens not just with great product, but with right marketing and distribution strategies, which leads to giving right growth momentum to the business to succeed. This wonderful analysis shows, how Everpix failed on many of these counts.
Click this link to read full analysis: When a great product hits the funding crunch
- Everpix, Snapchat, and the Startup Lie (inc.com)
- Everpix and Everyone (subtraction.com)
- Everpix, The Cloud-Based Photo Startup, Is Shutting Down (techcrunch.com)