Late last year, we bought Meteor (@meteorjs) from @Apollographql.
It was a wonderful, highly profitable business with customers like IKEA and Honeywell.
But they had a problem:
They raised $53M from @A16Z and other venture investors...
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Meteor wasn't big enough to give their venture investors a return, so they pivoted and started Apollo, leaving Meteor to languish. To anyone else, it was an incredible business. It made millions of dollars in annual profit and had Fortune 500 customers...
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But to their investors, who need billion dollar exits, it was a rounding error. (Rightfully) They decided to sell it to focus. While PE firms jerked them around and wasted months, Tiny swept in, made them a simple 30-day offer, and committed to growing the business in earnest.
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“Tiny moved at lightning speed, kept the terms straightforward, and didn't waste any of our time, which was very different from our experience with some other potential acquires. We're very happy with how our partnership with Tiny has worked out." -
@GeoffQL, Co-founder1 reply 1 retweet 147 likesShow this thread -
Since then, we’ve hired a team of developers and are working hard to reinvigorate the community and platform. Today, I’m excited to show off step 1: the all-new http://Meteor.com , with an awesome design by
@z1digitalstudio. The first of many big things to come
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omg thank you! i’m so happy meteor has backing
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