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Ask HN: Re-inventing an acquired & closed Startup, Need Advice

5 points by maverick2 ↗ HN
Me & my co-founder started working on an idea 4 months back we are 50% into it. And two days back I stumbled across a post about another startup/product which had a same product(approximately it is a 90% overlap). This previous start-up ran for around 2-3 years, and was eventually bought by Google for rumored 10+ mil $. Google had shutdown the product(tech pundits commented that it was basically acqui-hired), Also founders have a patent about how they technically implemented the idea. The product was widely used and had an install base of 100+ mil. Me & my co-founder are not co located, and are working. This weekend I am travelling to meet him and decide the future course. Thought of getting some advice from HN community first. Please advice if you would continue with development, or start looking for another problem to be solved(Idea).

6 comments

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cannibal
Go for it. Worse case scenario: you gain some experience.
maverick2
Thanks for response, I am also inclined o this only. Because I think it a void which needs to be closed, no matter it was caused due to lack of product or a product getting bought and closed.
cannibal
Make sure that the business aligns with your goals and needs. A little research can go a long way.

Does it provide value that people are actively seeking, or will you need to put in long hours to convince people of its value?

How do others monetize the business and did it work? Why or why not? What will you do differently? Why?

Why was it bought and closed? Have you talked to anyone involved in that decision? Have you attempted to talk to someone who has knowledge of the situation? There are most definitely factors that you are not considering because you weren't involved. Like they say, you only know what you know.

Those are just some example questions to ask yourself. Figure out what questions make sense for you and your business/idea.

mgallivan
I'm just curious (and not trying to be a dick), but how come you didn't come across the product sooner? It seems that it had huge appeal.
maverick2
No idea, even I am so dumbfounded. May be I didn't search enough.
staunch
Only do it if you very 1. objectively feel the problem is not solved well today 2. very much want to solve the problem.

Those are always the first two prerequisites.