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Campaign Monitor Raise $250m

Big news; Australian Tech Company Campaign Monitor raise $250m from Insight Ventures That’s a huge effort for the guys and a well deserved milestone. It’s a great result for them and also a wonderful recognition of what is possible in Australia. Not just the size of the success, but the way they were albe to do it it while maintaining a balanced life.I’ve known the guys for years, though they typically keep their heads down working and are wonderfully humble about their results. A few things I take from this: Big success is absolutely possible from Australia. It takes time. Ten years for these guys. You can do it anywhere. They’ve done in 99% in Sutherland about 45 mins from the centre of Sydney. You can do it without raising capital along the way. Yes, you need tech co-founders, but it’s possible. You can do it with balance. They still surf regularly, are raising families and are (very good) table tennis players. You don’t need a crazy vision, but you do need to play in a big market. Deliver one product well and keep making that product great. They have barely stretched outside of email marketing but do it insanely well. Hats off to you guys! http://www.campaignmonitor.com/ Image from Shoestring – http://www.shoestring.com.au/2014/03/email-wars-chimp-chasing-cronulla-style/  

Tech Co-Founder Roundabout

It’s hard to find a tech co-founder to build a business with. Ask Liz at YouChews. It’s even harder to build a tech business without a tech co-founder. The reason it’s an issue is a bit of a circular reference. Don’t Have a Tech Co-Founder: Startups are risky. So it’s hard to attract funding early. So you don’t have much money to pay people. So if you can’t pay people and you’re not a coder then it’s hard to create a product, that gets traction that gets funding to pay people. Maybe a 1% chance of success. Have a Tech Co-Founder: Startups are risky. So it’s hard to attract funding early. So you don’t have much money to pay people. Since you’re a coder, you make a MVP in your spare time. Your MVP gets some traction and either makes some money so you bootstrap or it helps you raise some money. Maybe a 5% chance of success. Other Reasons Why It’s Hard Uncertainty – building a new product that does a new thing in a new way isn’t just hard, it’s risky. You have to learn which takes time (if you are a programmer) or money (if you aren’t a programmer). Startup tech companies is a contact sport. You […]