[webwright]

This was (originally) exactly why we created RescueTime (YC08 - and still growing!). We'd sold a tiny/new startup that we'd created IN ALASKA to a large/overfunded startup (150ppl) in Seattle. We were convinced we were moving to the big leagues. Everyone would be so smart! We'd move 10x faster will the big league technology/processes!

The reality was pretty terrible-- I felt like the entire company spent all day writing emails, going to meetings, and updating wikis... Which seemed pretty scary for a company that hadn't figured out its own product yet. We wanted a big chart showing the allocation of time spend so we could show it the exec team and say, "Is this on purpose?"

The company ended up raising $50M and selling for less than $1M. The founder went on to create Fab.com, which raised $300M+ and sold for $15M.

[StavrosK]

Sorry, I'm kind of confused by the timeline. Which company was which? You say RescueTime is still growing, but then said it was sold for $1M? I think I misunderstood.

[quasse]

I think he's saying that he created RescueTime as a reaction to the experience he's detailing in the comment (post Alaska startup).