Are you working on a way to develop and delpoy apps on your platform without shipping the entire source code to the app to the browser? I'm guessing there are a lot of people who don't mind their source code being sent to each user, but I think there are many of us who would love to use your platform that would prefer not to do that.
No, it's not nonsensical (aside: not a particularly polite way to disagree). It's not entirely clear that this is a priced round. Even if it was, Jamie is right-- they could have raised that money selling anywhere from 10% to 50% of their company.
My initial thoughts were that Meteor would be more widely deployed in production than Firebase would. But it also seemed like Firebase had a more obvious path to profitability than Meteor.
Given the current VC market and the rapidly evolving landscape of (so called) real-time services, I'm surprised they raised such a small sum. I would have thought if you were going to go the VC route, you might as well go all in and raise a massive chunk.
With a (somewhat conservative) estimate of $10K a month per engineer and $1.1M to spend, a team of 8 engineers would give you a runway of just under 14 months. I think you would want more runway than that.
Yes, it is. What do you think a "conservative estimate" means? Here are two definitions for you: "moderate, cautious, low"[1]; "at the lower end of a range of possible numbers"[2].
I was assuming the value being optimized for was runway, so a conservative estimate overshoots on probable fully-loaded cost which results in underestimating how long you have until you die. Overestimating how long until you die has more serious consequences from the perspective of, well, everyone involved.
I think there's a good lesson for startups building platforms: don't underestimate the importance of hustle.
I met James and his team at a hackathon this past March. Twilio (the company I work for) was a sponsor, along with Firebase and several other API companies. I had never heard of Firebase, and I don't think any of the ~100 developers there had either.
James and his team (~6 of so colleagues & friends) spent that weekend talking to every team there, understanding what they were trying to do and diving into their code. They were everywhere, buying beer, lending a helping hand, you name it.
3 months later, they raise a million dollars. Not a coincidence.
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[ 4.0 ms ] story [ 72.7 ms ] threadCongrats on the funding!
If you raise 1.1m, and the investors get 10% stake, then your valuation is 11m.
Could have been a convertible loan, which defers setting a valuation.
[1] http://roll20.net
Given the current VC market and the rapidly evolving landscape of (so called) real-time services, I'm surprised they raised such a small sum. I would have thought if you were going to go the VC route, you might as well go all in and raise a massive chunk.
With a (somewhat conservative) estimate of $10K a month per engineer and $1.1M to spend, a team of 8 engineers would give you a runway of just under 14 months. I think you would want more runway than that.
1. http://www.answers.com/topic/conservative
2. http://www.definitions.net/definition/conservative
I've ran through the demos and have been waiting my invite to set in for a while now.
I met James and his team at a hackathon this past March. Twilio (the company I work for) was a sponsor, along with Firebase and several other API companies. I had never heard of Firebase, and I don't think any of the ~100 developers there had either.
James and his team (~6 of so colleagues & friends) spent that weekend talking to every team there, understanding what they were trying to do and diving into their code. They were everywhere, buying beer, lending a helping hand, you name it.
3 months later, they raise a million dollars. Not a coincidence.
Btw, how does this affect Envolve? Is Envolve going to continue running?