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From Startup to Exit in 18 months

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Federico Feroldi
Federico Feroldi

The short but successful history of a young technology startup born in Italy and sold after 18 months of happy life to a US company.

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Startup to Exit in 18 Months Lessons learned bootstrapping and selling a technology startup from Milan to San Francisco. Federico Feroldi - @cloudify
Federico Feroldi In the web industry since 1996 Co-founder and president of Coderloop, now acquired by Gild.com Im a geek and a programmer, trying to master the art of entrepreneurship.
About Coderloop A technology than enables employers to evaluate technical candidates effectively based on programming puzzles and interactive challenges.
From Startup to Exit in 18 months
Milestones Full 2K IDEA Time users 1st cust. Acquisition proposal FEB, 15TH JUN, 1ST DEC, 1ST FEB, 20TH JUL, 12TH .2010 .2011 FEB, 23RD JUL, 1ST FEB, 1ST APR, 5TH JUL, 22ND 1st line Launch! of code Inc. 1st Term Sheet EXIT
Bad decisions ? Didnt verify our business model ? Realized too late that market size was too small ? Didnt set a price on the product from the 1st day ? No personal income for 18 months
Good decisions ? Stayed focused: do one thing! ? Stayed frugal: used only free tools! ? Kept the team small ? Waited for investors to come to us ? Been transparent, asked for advice ? Targeted the international market
Best lesson ever! Solving a problem that we had is the best decision we ever made. If you have a problem that your product solve, you are you own customer. If many other people have it too, then you have a market for your product.
Thanks federico@cloudify.me @cloudify

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From Startup to Exit in 18 months

  • 1. Startup to Exit in 18 Months Lessons learned bootstrapping and selling a technology startup from Milan to San Francisco. Federico Feroldi - @cloudify
  • 2. Federico Feroldi In the web industry since 1996 Co-founder and president of Coderloop, now acquired by Gild.com Im a geek and a programmer, trying to master the art of entrepreneurship.
  • 3. About Coderloop A technology than enables employers to evaluate technical candidates effectively based on programming puzzles and interactive challenges.
  • 5. Milestones Full 2K IDEA Time users 1st cust. Acquisition proposal FEB, 15TH JUN, 1ST DEC, 1ST FEB, 20TH JUL, 12TH .2010 .2011 FEB, 23RD JUL, 1ST FEB, 1ST APR, 5TH JUL, 22ND 1st line Launch! of code Inc. 1st Term Sheet EXIT
  • 6. Bad decisions ? Didnt verify our business model ? Realized too late that market size was too small ? Didnt set a price on the product from the 1st day ? No personal income for 18 months
  • 7. Good decisions ? Stayed focused: do one thing! ? Stayed frugal: used only free tools! ? Kept the team small ? Waited for investors to come to us ? Been transparent, asked for advice ? Targeted the international market
  • 8. Best lesson ever! Solving a problem that we had is the best decision we ever made. If you have a problem that your product solve, you are you own customer. If many other people have it too, then you have a market for your product.