Description: Socialthing! Founder & CEO
  • Total Comments: 33
Last 5 comments by Matt Galligan
Unfortunately Facebook doesn't expose that via the API so we're not actually able to do that, and until they add it to their API functions, we won't be able to. I would really love to see that ability, but as of right now, it's not there...
  • 1 week ago
Yup...but as we grew we started to realize more and more things...but most of all, understanding that we got acquired by AOL, we have to prepare ourselves for that large of a userbase.
  • 1 week ago
Alrighty everyone...check out our most recent post on our blog post for an update!, http://blog.socialthing.com/2008/11/23/time-for-a...
  • 1 week ago
Congrats guys! That's super exciting...glad to see that it worked out for you and it's very cool that there's more and more focus on Boulder these days!
  • 10 weeks ago
Nate, good perspective for sure. We definitely consider this an "early exit" but there's plenty of reasons that an early exit might work well for a team. Sometimes making the "big bucks" isn't always the goal. Of course, making a ton of cash off of something so you barely need to work ever again is pretty awesome, but a lot of times there's a lot of other things that you need to consider.

One is that Ben and I (the founders) are pretty young (just turned 24). By having an early success (and being acquired by a large company, such as AOL) is huge for our careers. Now whenever we start some other company (in the future) we will have an easier time picking up VC funding for that company.

Beyond that, usually you've got three options for running a company...raise tons of cash, get cash flow positive or exit. Unfortunately our business doesn't really easily get to cash flow positive quickly. Because of that, we were stuck raising cash. Now granted, we didn't need a ton of it, but we did need some. The more investment you pull in, the less percentage you have in the company, and the more difficult (more expensive) it is to sell the company.

There's a whole lot of things that you have to weigh in on to really decide what kind of outcome is meaningful to you...in this case it was a really meaningful exit for all of us in the company, and meant that we could keep working on our product without the pressures of raising money or running a business.

Make sense?
  • 12 weeks ago

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