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Full disclosure: I work for Forkly (http://forkly.com http://forkly.com), a FoodSpotting competitor. I think that it was probably an okay exit for the founders
by hiroprot 14y ago
Full disclosure: I work for Forkly (http://forkly.com http://forkly.com), a FoodSpotting competitor.
I think that it was probably an okay exit for the founders (but definitely no homerun), and for most of the early angels. As for BlueRun Ventures (who put in the bulk of the last round), it probably wasn't that good of a return.
Of course, these exits often don't get paid out based on equity, but on some negotiated deal that will make investors at least somewhat happy. As for the founders, I'm pretty sure they got signing bonuses, probably tied to staying at OT for a year or two.
It will be interesting to see what happens to FoodSpotting (apparently it will stay standalone), and how OpenTable will make use of it.
- dmor 14y agoHow do you feel this impacts the exit opportunities for Forkly?
- quellhorst 14y agoI feel that it puts a fork in it.
- hiroprot 14y agoI don't want to speculate too much around this, but I think it shows that the space is starting to heat up, so this is actually good for us. Obviously, we would have liked to see a higher price tag for that acquisition ;)
- iusable 14y agoNice to see an open dialogue on here. How do you see this space moving forward? I wonder if there are a lot of 'nice-to-have' and not enough 'must-have' apps, if any at all.