Startup: End of Year 2
Here’s my long-overdue quarterly update to close out our second year building Wavve.
December 16′
- Continued fruitlessly to find product-market fit for the mobile app.
- Reached the conclusion that radio is a dying industry and not the way forward for our business model.
- Invested more time and energy into the experimental Wavvegram product.
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January 17′
- Decided to spin down the Delaware Corporation, Wavve Inc. This was due to a number of factors: no clear business model for our audio sharing platform, lack of growth needed to raise venture money, the administrative/franchise costs of a Delaware Corporation, etc…
February 17′
- Tested different revenue drivers while trying to get a completely different product off the ground.
- Made plans to start a new business that would be 100% bootstrapped and require less initial capital.
- Received offer to sell most of our mobile app and some of our backend technology.
March 17′
- Started prep work to get code and services ready for the sale.
- Continued work building out Wavvegram infrastructure.
- Launched Wavve, LLC with the goal of being a passive income business around our new bootstrapped product.