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This is probably true. And, this is a better outcome than most companies ever see. There are a great group of people at SimpleGeo, and while I never understoo
by davidu 15y ago
This is probably true. And, this is a better outcome than most companies ever see.
There are a great group of people at SimpleGeo, and while I never understood how it would be a big business, I was always confident that if a big opportunity existed, they would find it. What this says to me is that the big opportunity in being the data layer for location does not exist as a stand-alone entity.
- brehardin 15y agoTheir Series A was 8.14M, which is a HUGE, series A. If they are getting acquired for $3.5M, assuming they have a little in the bank, this is not a good exit. I am sure the founders are seeing very little of this money. The liquidation preferences "prefer" the investors.
- davidu 15y agoI was being diplomatic.
- fedd 15y agoIt means making a service not for consumers but for other services is a bad business nowadays?
- acgourley 15y agoI think this is the biggest factor at play. The field of companies that would consume geo-location didn't grow as fast as people thought. For a period when simplegeo was funded it seemed like everyone was butting their head against this data layer problem... but the big guys eventually figured it out internally and the small guys moved on to groupon clones and suddenly there wasn't a huge market.
- sabman 15y agoDid SimpleGeo ever go after the big players?