Fishidy, Developer of Tech That Aids Anglers, Sold to Flir Systems
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of their time continuing to develop the company’s technology and grow its user base, rather than concentrating on revenue growth.
“They got hung up on the technology, instead of saying, ‘How are we going to make money on this thing?’” Mosher said. “It’s one thing to be free for 30 days. People [were paying] either $0 or $10 a month. In my mind, if you price it at $1 or $2 a month, people wouldn’t bother to cancel if they signed up for it.”
Mosher believes that if Fishidy had been bringing in more revenue on a month-to-month basis, the startup would have fetched a higher purchase price. But Mosher said that Jensen, Fishidy’s CEO, was pleased with the terms of the deal his company struck with Flir.