I just closed my VC funded startup, ask me anything
Yavuz Tunc Emran
6 replies
I developed a SaaS to resolve people who were actively selling services/goods on LinkedIn to automate certain sales actions to make their operation effective.
The competitive edge we had was, LinkedIn wasn't allowing this so there wasn't any API involved in making this. Consequently, not a lot of people could compete with us.
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murph@duffdevone
BodySherpa
Did VC's get any capital returned, did they allow you to pivot, or was it a total write-off?
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BodySherpa
@tunc_emran Wow. so sounds like their stubbornness cost them more. There's a lesson in there -- gotta be able to adjust your priors when new information comes in or the environment changes!
Tamly: Automate B2B Sales Outreach
@duffdevone It was a total write-off for them. There were some potential buyers who offered less than the valuation they invested in and they insisted on getting back the entire investment if in fact it exited. Then we agreed that insisting on this was useless but it took some time.
Tamly: Automate B2B Sales Outreach
@duffdevone it was more of a procedure rather than an actual decision made by their board.
But the lesson here i guess is you don’t have to accept every term that is presented to you
I'd like to ask a similar question like @arslandevs did. Have you thought about shifting it to other platforms? Also, what feedback did you receive from customers before things took a turn?
Wow, that's quite a story! Definitely intrigued to learn more. How much funding did you raise, and how long were you operating before deciding to shut down? Did you run into regulatory issues with LinkedIn? What lessons did you learn that you'd share with other SaaS founders? Always interested to hear real stories from the trenches!