An Update To: So I’ve Invested In An iPhone App
3 months ago I wrote a blog post titled So I’ve Invested In An iPhone App which was picked up on Hacker News where I asked for advice on an issue that was affecting the company. Essentially what happened was that I had invested in an iPhone application where 2 of the co-founders were being head-hunted by Apple, Google & Facebook. I received some great advice from members of the Hacker News community however unfortunately 2 members of the team have now departed and we’re down to 2 people (myself and 1 of the original founders).
While this did initially set us back and have the companies fate in limbo, we’re now moving forward faster than ever with a lot of the applications design completed and a landing page already up (see: www.capptureapp.com). When I originally invested in the company my role was fairly simple and could be compared to as a silent partner: I would provide capital and advice if needed. Since the departure though, I’ve taken on a bigger role and while it does eat up a lot of time, I couldn’t be happier with the way things are going. Granted we’re without the original developer & a designer, it’s not something that will stop the progress of the app.
The co-founder I’m working with is an extremely talented UI designer and we plan on taking this as far as we possibly can, and then we have a crucial decision to make: do we invite a developer in for a share in equity or do we hire a developer? Obviously this will be a hard decision so we’ll leave it for the time being and see how things work out. One thing is for sure: Apple, Google & Facebook won’t be interfering anymore!
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