June 30, 2005
New product development & entrepreneurship(Posted by francois to: product innovation )
Joe Kraus has a great post on how it took $3M to start Excite and only $100K to launch Jotspot (here - via O'Reilly Radar). The reasons he lists are hardware being 100X cheaper, software infrastructure being free, greater access to global labor markets, and search engine marketing.
That is so true! The new environment also allows for "micro-businesses". I know many people that have self-funded and launched online applications that would have required a full staff, funding, and offices before.
$50-100K gets you a long way these days!
Posted by francois at June 30, 2005 11:50 AM | Bookmark This
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» Web 2.0: It's a great time to be an investor from Venturepreneur Partners
A lot has been said about Joe’s post during the past few days. Which made me think — is it also a great time to be an investor? I think so and provide reasons why in my post, Web 2.0: It’s a great time to be an investor. It would be great to get... [Read More]
Tracked on July 4, 2005 12:21 PM
It appears that Jotspot is in the business of creating new generation of softwares that are radically different.
And creating the company itself, Jotspot with a mere $100,000 is a feat by itself, in comparison to the $3 million it cost to get Excite off the ground.
Once a genius, always a genius. More success to you Joe Kraus!
Posted by: Online Shopping at February 10, 2006 11:07 AM