• Dec022008

    Not for Sale

    Posted by Gene in Business

    DiggI’m really happy to see a site like Digg announce they are in it for the long haul. It seems like every week I read about some start-up or another getting acquired or going down. I know raising venture capital is possible and then it’s always possible to get rich by turning your company over to the highest bidder. But, if you are inventive enough to come up with an idea that’s as great as DIGG and you are so close to actually making profit with that company then why wouldn’t you go for it? What ever happened to starting up a business and trying to make that business profitable so you could live and work and grow old together?

    In an interview with BusinessWeek, Digg Chief Executive Officer Jay Adelson says the popular news aggregation Web site is no longer for sale, and the focus of the company is to build an independent business that reaches profitability as quickly as possible. That means the four-year-old startup will dial back some of its expansion plans, instead prioritizing projects that generate revenue and profit. (from BusinessWeek Online)

    I know it’s insane to think of bootstrapping your business venture and working hard to see it turn a profit in today’s world and all. Why wouldn’t you want to have a company make a profit without owing any outside investors anything in the end?

    Also, You can’t just write off Digg’s decision to not sell as a result of the economy/recession, so don’t even go there…

    • Post a Comment 1 Comment

    1. Posted at 8:23 am on 12/05/08

      Gene

      I missed this one too: http://www.alleyinsider.com/2008/11/twitter-rejects-500-million-takeover-offer-from-facebook

      Nice to see twitter not going the way of selling too…

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