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Maybe my understanding of a "Startup" is wrong, can someone explain to me how a company founded in 2007 is still considered a startup?

chcleaves 13y ago
Agreed - I once worked for a startup that had been around for 9 years - definitely defeats the purpose. I can't figure out how they raised that much with all the other competitors in the market with much bigger brand awareness - i.e. Nike's fuelband - yes the products differ but in theory do the same.
- theklub 13y ago
  Yeah, back when they launched this tech was much more cutting edge. Now more and more devices can offer the same types of features.
- lotso 13y ago
  I know more people with Fitbit's than Nike Fuelbands. Obviously anecdotal, but definitely surprising for me.
- druiid 13y ago
  As another person commented, I know far more people with Fitbit's than any other device. They kind of hit a lot of sweet-spots with their product. I do however also know a couple people with the Nike product. From there down I expect the competitors for those two split the remaining market-share up into tiny bits.
noahc 13y ago
One definition of a startup is a company (person or business) that is still looking for product/market fit. I'd argue that you're a startup until you've found product/market fit and have found a verifiable profit generation mechanism in which you can put $10 in and get $10+ dollars out reliably.
antr 13y ago
The term "startup" is many times used for: - Marketing: you get plenty of free press if you are a "startup" vs a medium sized business. - Hiring: new hires and many hardworking people want to work in a cool and hip company. The use of "startup" creates that halo. - Capital structure and financial discipline: there is nothing wrong if a "startup" isn't generating revenue and/or profits, because "we are in the growth stage". A medium sized business which isn't generating any revenue and/or profits isn't financeable and a shipwreck waiting to happen.
aed 13y ago
There's this handy definition: http://www.paulgraham.com/growth.html http://www.paulgraham.com/growth.html

chcleaves 13y ago

Agreed - I once worked for a startup that had been around for 9 years - definitely defeats the purpose. I can't figure out how they raised that much with all the other competitors in the market with much bigger brand awareness - i.e. Nike's fuelband - yes the products differ but in theory do the same.

theklub 13y ago
Yeah, back when they launched this tech was much more cutting edge. Now more and more devices can offer the same types of features.
lotso 13y ago
I know more people with Fitbit's than Nike Fuelbands. Obviously anecdotal, but definitely surprising for me.
druiid 13y ago
As another person commented, I know far more people with Fitbit's than any other device. They kind of hit a lot of sweet-spots with their product. I do however also know a couple people with the Nike product. From there down I expect the competitors for those two split the remaining market-share up into tiny bits.

noahc 13y ago

One definition of a startup is a company (person or business) that is still looking for product/market fit. I'd argue that you're a startup until you've found product/market fit and have found a verifiable profit generation mechanism in which you can put $10 in and get $10+ dollars out reliably.

antr 13y ago

The term "startup" is many times used for: - Marketing: you get plenty of free press if you are a "startup" vs a medium sized business. - Hiring: new hires and many hardworking people want to work in a cool and hip company. The use of "startup" creates that halo. - Capital structure and financial discipline: there is nothing wrong if a "startup" isn't generating revenue and/or profits, because "we are in the growth stage". A medium sized business which isn't generating any revenue and/or profits isn't financeable and a shipwreck waiting to happen.

aed 13y ago

There's this handy definition: http://www.paulgraham.com/growth.html http://www.paulgraham.com/growth.html