Predictify got funded… Great for those who will be hired… But is it a good thing, overall?
Chris F. Masse March 27th, 2008
Via Nigel Eccles and Mat Fogarty, the Predictify blog, Mashable, and VentureBeat.
NewsFutures, Consensus Point and Inkling Markets were self-funded, are now profitable, and are continuing to address their customers’ problems with a continually improved technology. These 3 prediction market software vendors are proving that you can create a sustainable business without the need to get “funded” by angel investors or VCs. With the money from those guys also comes the pressure to “monetize” every thing. It’s not always a good thing to have the suits running the show. NewsFutures, Consensus Point and Inkling Markets are still in the hands of their founders, and they are still free to execute their vision —the way they want.
What’s your view, folks?
Previous blog posts by Chris F. Masse:- A second look at HedgeStreet's comment to the CFTC about "event markets"
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- Comments(1)
Big congratulations for Predictify for getting funded. The challenge of raising money shouldn’t be underestimated and having outside shareholders really concentrates the mind in building a large sustainable business. You can’t do that if you don’t build a product that customers value so there isn’t really a conflict of interests. However, $4.3 million is a lot of cash and big money equals big expectations.