Can a Shy Business Thrive?
6th July 2012 · 0 Comments
This morning, I stumbled across a classicstartup story, detailing the success of a young man running a thriving
online startup. Seung Bak identified a
supply deficit for American consumers of Korean soap operas. He remedied this deficit by launching dramafever.com, an online channel that
“brings you the best Asian primetime TV for free.”
The site has raised millions of dollars from investors, and
currently provides content to more than 2 million viewers. Typically, the next step for a hungry
entrepreneur would be an IPO, but Mr. Bak has stated he has no desire to take
his company public.
currently provides content to more than 2 million viewers. Typically, the next step for a hungry
entrepreneur would be an IPO, but Mr. Bak has stated he has no desire to take
his company public.
Later in the article, Jai Shekhawat, who runs Fieldglass, a temporary staffing solution
for high tech industries, said that multiple investment bankers have called him
to request an IPO, and that he has refused them. Mr. Shekhawat does not want to overhaul his
accounting department to appease federal regulators, he is perfectly happy not
answering to shareholders, and he is not willing to place
for high tech industries, said that multiple investment bankers have called him
to request an IPO, and that he has refused them. Mr. Shekhawat does not want to overhaul his
accounting department to appease federal regulators, he is perfectly happy not
answering to shareholders, and he is not willing to place
Fieldglass in a
situation where the company could be abandoned by its shareholders.
situation where the company could be abandoned by its shareholders.
The flip side of this coin is that there is ceiling, (be it
a VERY tall ceiling,) that limits the accomplishments of privately held
corporations. Spencer Rascoff, founder
of the popular, and now publically traded real estate search utility Zillow, aptly pointed out that the
accomplishments of Apple and Google would have been limited if they had
remained private.
a VERY tall ceiling,) that limits the accomplishments of privately held
corporations. Spencer Rascoff, founder
of the popular, and now publically traded real estate search utility Zillow, aptly pointed out that the
accomplishments of Apple and Google would have been limited if they had
remained private.
Of course Mr. Rascoff didn’t mention Facebook.
And no one mentioned The Alternative Board, an innovative
resource that allows you the benefit of a board of directors, without the all
the hassles that come with being publicly traded…
resource that allows you the benefit of a board of directors, without the all
the hassles that come with being publicly traded…
Taken a company public?
Kept a thriving company private?
Business consultant who can offer advice?
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Tags: culture, management, sales, small-business, technology
