3 ms·

So did Bump fail or is this considered a successful exit? I met some Bump folk a year ago. The company had a lot of employees and still wasn't making any mone

by yapcguy 13y ago

So did Bump fail or is this considered a successful exit? I met some Bump folk a year ago. The company had a lot of employees and still wasn't making any money. They basically burnt all their investors money. Calling this an acquisition is bending the truth.

nl 13y ago
Calling this an acquisition is bending the truth. Umm. Google bought them - that's an acquisition no matter if they are making money or not (unless "acquisition" has been redefined somehow)
- eigenvector 13y ago
  The announcement doesn't actually say that Google bought them. It just says that the Bump team is joining Google.
  - yapcguy 13y ago
    I wish we could have more detail on these kind of transactions. Someone glancing at the headline would assume this was a successful exist for a YCombinator backed company. However, perhaps any remaining cash was returned to the original investors, less costs of liquidation, and any assets were "sold" to Google for $1 with some of the development team moving to Google as temporary contractors or probationary hires, rather than immediate permanent hires.
mathattack 13y ago
Acquisition or acquihire? It's tough to know without seeing the return to the original investors.
- yapcguy 13y ago
  I think this obfuscation comes from a fear of failure, which is ironic given that it's the ready acceptance of failure and the can-do attitude which is supposed to set American entrepreneurs apart from Europeans and others. It seems that investors are now scared of failing, losing money and the impact on reputation, so they want to preserve their mythical image as Titans of Silicon Valley (much like investment bankers believed they were Masters of the Universe) for as long as possible. Thus they come up with dubious acquisitions, acquihires and mask strategic failure as pivoting.
  - mathattack 13y ago
    Is it the investors, or entrepreneurs that are afraid of failure? Folks like to have "Sold to X" on their LinkedIn profile.

by yapcguy 13y ago

nl 13y ago

Calling this an acquisition is bending the truth. Umm. Google bought them - that's an acquisition no matter if they are making money or not (unless "acquisition" has been redefined somehow)

eigenvector 13y ago
The announcement doesn't actually say that Google bought them. It just says that the Bump team is joining Google.
- yapcguy 13y ago
  I wish we could have more detail on these kind of transactions. Someone glancing at the headline would assume this was a successful exist for a YCombinator backed company. However, perhaps any remaining cash was returned to the original investors, less costs of liquidation, and any assets were "sold" to Google for $1 with some of the development team moving to Google as temporary contractors or probationary hires, rather than immediate permanent hires.

mathattack 13y ago

Acquisition or acquihire? It's tough to know without seeing the return to the original investors.

yapcguy 13y ago
I think this obfuscation comes from a fear of failure, which is ironic given that it's the ready acceptance of failure and the can-do attitude which is supposed to set American entrepreneurs apart from Europeans and others. It seems that investors are now scared of failing, losing money and the impact on reputation, so they want to preserve their mythical image as Titans of Silicon Valley (much like investment bankers believed they were Masters of the Universe) for as long as possible. Thus they come up with dubious acquisitions, acquihires and mask strategic failure as pivoting.
- mathattack 13y ago
  Is it the investors, or entrepreneurs that are afraid of failure? Folks like to have "Sold to X" on their LinkedIn profile.