SaaStr · 2013-01-08
· 4895d
Complementary Weaknesses Matter More Than Complementary Strengths in Co-Founder Selection
Jason Lemkin argues that for SaaS founders, selecting co-founders whose weaknesses complement your strengths is more critical than having complementary strengths. He illustrates this with his NanoGram Devices experience, where his co-founder's technical expertise and management skills offset his weaknesses, enabling the company to achieve a $50M exit in 13 months.
Metrics in this report
Company Valuation Multiple
1000x
value creation
NanoGram Devices: $50M sale price vs initial product perceived value
Exit Valuation
50000000$
observed
NanoGram Devices acquisition price
Initial Product Sale Price
50000$
baseline
NanoGram Devices product pricing before turnaround
Time to Exit
13months
observed
NanoGram Devices from founding to $50M acquisition