Last October, I wrote a blog post titled 57 Things I’ve Learned Founding 3 Tech Companies. At the time I had founded two startups and was a year into the third, a gay social network launched as Fabulis that was later rechristened Fab. A few weeks ago I followed up that post with an essay on the difference between year 1 and year 2 of your startup. Now that we’re relaunching Fab under an entirely new business model, I figured it might be a good time to share what I’ve learned about the stay/go/pivot decision to help others facing the same critical choices.
I have run this particular gauntlet three different times:
* At employment website Jobster, which was founded in 2004, raised $48 million in VC funds, employed 150 at its peak, and sold a song in pieces in 2009 and 2010.
* At social news service socialmedian, a shoestring operation with just me, a few developers, and $800,000 in angel money that was acquired only 11 months after launch for $7.5 million.
* And currently at Fab.com, which spent 11 months as a mashup of Facebook, Yelp, TripAdvisor, Eventful and Foursquare services for the gay community as we iterated in search of some traction -– now being reinvented as a private sales community for design lovers.
To read the full, original article click on this link: The Fab.com story: 10 tips on when to change your game | VentureBeat
Author: Jason Goldberg
