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I'm looking at interviewing for a company, listed as started over 10 years ago. They raised between 50-70 million in venture capital. They raised 20 million as soon a 2010. They are still borrowing money as well. Talked about how they got a line of credit of a couple million dollars this year.
Is this considered a "startup". I'm not sure when I consider this company if I should consider it an inherently unstable situation like many startups are, or if I should consider it on the same level as other smaller companies. I really have little knowledge of working with startups.
I'm looking at interviewing for a company, listed as started over 10 years ago. They raised between 50-70 million in venture capital. They raised 20 million as soon a 2010. They are still borrowing money as well. Talked about how they got a line of credit of a couple million dollars this year.
Is this considered a "startup". I'm not sure when I consider this company if I should consider it an inherently unstable situation like many startups are, or if I should consider it on the same level as other smaller companies. I really have little knowledge of working with startups.
Definitions are just words and don't matter much in such cases. The bottom line is that they are still struggling. Does it make a difference?
Usually, a technology start-up won't last 10 years, and keep receiving venture capital funds. The technology will likely be outdated by that time and something new will have taken it's place.
I have worked in 2 start-ups and they are very unstable. Usually, the founder/co-founders have gotten themselves into a situation which is "over their heads", unless they have hired a professional management team.
Usually, a technology start-up won't last 10 years, and keep receiving venture capital funds. The technology will likely be outdated by that time and something new will have taken it's place.
I have worked in 2 start-ups and they are very unstable. Usually, the founder/co-founders have gotten themselves into a situation which is "over their heads", unless they have hired a professional management team.
It is a medical product to treat(prevent) disease so not really a problem of the tech going out of date.
How mature is their product or the segment they play in? Have they changed their business strategy/product midstream?
Their product seems mature, they seem to have sold quite a few them. Doesn't appear much change. They did have to go through lots of clinical trials and stuff for the FDA. But I am curious why they still need to raise money after so long.
Medical technology companies..or anything medical for that matter, take a LONG time to incubate.
After the initial product development, there is testing....revisions....trials...revisions....and finally, if they are lucky, the FDA stamp of approval--either full, or partial.
All of that takes a HUGE amount of money, and time--which unto itself, costs money. Ten years is not unrealistic for this sort of venture (mind you, we have only the most rudimentory details to go on here).
So, what do you do?
Go have a conversation. Why not? Read. Ask. Get copies of everything you can lay your hands on. Ask, and receive, copies of their financials. Look around. Your eyes will tell you if the place has hope...or if it is a fraud/scam/disaster.
High growth/ start-ups can be a wonderful environment in which to work. Different, for sure, but with the right group of people, the right product ideas, and the right money bankrolling them (go have a chat with their VC partners) you can really soar.
Their product seems mature, they seem to have sold quite a few them. Doesn't appear much change. They did have to go through lots of clinical trials and stuff for the FDA. But I am curious why they still need to raise money after so long.
As someone who spent years with 2 medical startups, I can tell you that they are still struggling and their future anything but clear. This market is very difficult (not another android phone). At one point the investors can pull the plug if they don't see it really taking off. One hope of such companies is to be acquired by a major player in the medical field (Philips, Siemens, Toshiba, GE). Those have the marketing might and field presence.
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