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Rasty Turek
@synopsi
Creator of
가입 May 2008
295 팔로잉 중    15.1K 팬
I have a bittersweet news. I am selling Obviously I am super thankful for it to be valuable enough that I get to sell it. But it's a shame I couldn't figure out anything else to do with it. The buyer is its largest customer. The other one is being off boarded. The longer story is, that I never really found a use case beyond these two customers. I got fooled by the initial traction. I have never sold anything this fast. But once I tried to replicate this, I couldn't get any more interest. There is a business for sure, but not one I am interested in. And I think that's the ultimate problem. Cadastre came together because I found a unique way to obtain valuable data, package it into cohesive system and built a nice interface around it. This is valuable to customers that already do this by hand. But not many do. Most development and real estate companies have enough business in more traditional ways. I talked to some hedge funds and private equity that were interested in the data, but as one off. Not much value in repeated access. Now I know there is more than two customers in this county. And there are 3,007 counties in US. So I could just replicate it across them all. But this is quite a large operation. Profitable one, but not venture scale. Requiring lots of employees. And I am just uninterested in a large operation at this point. The other frustrating thing for me was watching 12 active users every day. I know it's silly. But there is nothing to learn from them. They do their job and leave. Nothing to improve. Every once in a while they would reach out and ask for me to add a feature. It mostly took 5 minutes. I know it's a lot of money. But I will rather work on something with higher usage and less revenue than the other way around. Thankfully I am in fortunate position not to worry about day to day income. So I can pick and choose what to work on. Ultimately this all lead to my decision to sell. The customer is not interested in the brand (never really built one), just the data and the engine. I get to make some money (more than most people make in 10 years) and can focus on other projects. So overall, this was a fun experiment, even though it ultimately failed.
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