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About three years ago, Provera for sale, Comprar en línea Provera, comprar Provera baratos, I got together with two of my buddies and a rock star Java developer and set out to build a mobile social network called iContact. This was about a year and a half before the MySpace acquisition by News Corp, online buy Provera without a prescription. Provera trusted pharmacy reviews, Social networks were well known, but nothing had really blown up yet, rx free Provera. It seemed to us at the time that nobody had yet built a social network that was built from the ground up to work on GPS enabled mobile phones, and we felt that would not only be fun but also very compelling, order Provera online no prescription. Buy cheap Provera no rx, We wrote a quick prospectus outlining the market, the business model, where can i find Provera online, Real brand Provera online, and the associated risks. We didn't have much trouble raising about $600k, where can i order Provera without prescription, Australia, uk, us, usa, about half of which came from the founders. Most of the rest of the money came from customers and partners from my previous public safety business, buy Provera without a prescription, Buying Provera online over the counter, Pinpoint Technologies (now ZOLL Data Systems).

We proceeded to build some really slick technology that operated on phones enabled with Java, Provera from canadian pharmacy, Canada, mexico, india, BREW, or WAP, buy no prescription Provera online, Kjøpe Provera på nett, köpa Provera online, which cover the majority of the mobile market. Order Provera online no prescription, We also built a web-based social network that had all the usual features. The difference was that everything was very phone-centric, order Provera from United States pharmacy. Order Provera online overnight delivery no prescription, We liked to tell people to quit surfing by themselves from their homes and get out into the real world where social networks have much more interesting implications. We even tacked on a pretty nifty unified instant messenger that also streamed your buddies' favorite music and information on the events they were attending soon, Provera gel, ointment, cream, pill, spray, continuous-release, extended-release, Ordering Provera online, giving iContact another channel that lived on our users' desktops. Within a year, order Provera online c.o.d, Comprar en línea Provera, comprar Provera baratos, we had a pretty cool product, about 2, Provera over the counter, Where to buy Provera, 000 beta users, and ZERO distribution by the cellular operators, where to buy Provera.

Our mission was to bring social networking concepts to the phone in a very natural way, but we quickly realized that without distribution agreements with the cellular operators we were going to be dead in the water, order Provera online no prescription. Order Provera from United States pharmacy, The mobile industry is full of pitfalls. If you don't have connections to cellular operators, order Provera from mexican pharmacy, Japan, craiglist, ebay, overseas, paypal, you'll literally need to buy them just to get a shot. It's an old boys club and the whole industry is just trying to keep control of the closed system they've put together, kjøpe Provera på nett, köpa Provera online. Provera gel, ointment, cream, pill, spray, continuous-release, extended-release, Open APIs are really only open to partners, revenue shares feel like hostage situations, ordering Provera online, Buy generic Provera, and network aware or location based applications sit in queues waiting for "approval" which is a euphemism for "hell to freeze over." (No, I'm not sour on mobile!)

We decided about a year ago to shut down iContact and attempt to sell off the assets of the company in order to make our investors whole, purchase Provera online. Order Provera online no prescription, We met with a few companies you've probably heard of by now who are doing all this stuff and getting deals done with the carriers. Buy cheap Provera no rx, Most of them were blown away by what we had created, but there was not a technology and/or strategic match for them, fast shipping Provera. Buy Provera from canada, So we never sold it, and it sits on the shelf, buy no prescription Provera online. Buy Provera without prescription, We did make a nice return on the domain name itself, but that hardly lessened the blow to our egos, buy Provera no prescription. Rx free Provera, A couple of companies still have an ongoing interest in acquiring the technology so we haven't listed it on eBay just yet.

In the end, we returned 78% of our investors' money, order Provera online no prescription. I think we failed well by deciding to to cut our losses before we spent all the money trying to make something happen, buy Provera online cod. Order Provera online c.o.d, The writing was on the wall, so we read it, buy cheap Provera. If you ask me, that's solid management under difficult circumstances, and I'm glad we pulled the rip cord when we did. At least half of these investors volunteered to invest in my next venture, whatever that might be. Order Provera online no prescription, I learned way too much from this experience to explain here. The biggest lesson was clearly to make sure you have control of the distribution of your product. For most software and web services, this is not a problem. I would say that the next biggest lesson is to start small and prove something before you convince yourself that the market really wants what you're building. Finally, I think we could have reacted even more quickly and returned 85% to 90% of our investors' money (or not have raised the round at all) with better market research and more connected industry advisors in the early stage.

Now back to writing about startups that might matter.

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About David Cohen

Geek. Hacker. Investor. Founder and CEO of TechStars.

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  • Jason E

    Great post David. Its as interesting to entrepreneurs to read about how others “failed” ( there have been much larger flame-outs) as it is about how they have succeeded.

  • http://www.howardlindzon.com howard Lindzon

    Cool insight. It is hard to pull the chord but easier with age :) .

  • http://made.nomadlife.org Made

    Good stuff. I am planning to get my first venture running and this post contains the lesson I need to learn. Thanks for sharing

  • Thomas

    Hey, would you be willing to share your technology…a couple of buddies from college and I are starting to develop a similar product. please let me know.

  • Thomas

    I forgot to add my email: thomasferede@yahoo.com

  • http://www.locle.com Ronan

    David, what was iContact's business (revenue) model and do you think it would work today?

    Do you believe that you were too focused on the US market, when non-US mobile (wireless) markets are pretty open from a distribution perspective?

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  • http://intensedebate.com/people/dgcohen David G. Cohen

    It was originally envisioned as a stand alone network which would then be white labeled to social networks (myspace, etc). this was before the myspace acquisition and before facebook was popular, etc.