I talk about this a lot to my friends. Having a breathtaking technical breakthrough idea is not the ONLY way to start a successful company, what matters is ‘user experience’. Experience which can Attract new users, experience which can Engage users to stay on a use your product, experiences which can retain users to your product and experiences which are good to be Monetized in future.
Bit.ly a URL shortening company, which recently got funded with 2 million USD. Some people have shrugged the idea and told that its just 10 lines of code…so what? If they have been able to attract, retain their users to come back couple of times in day to use their services, I am sure they can monetize it as well.
I am sure VCs are no lame to fund them on any other ideas. They must have a team and potential plan which can be milked later, like analytics and click tracking as mentioned by Fred .
Good days ahead for Bit.ly
