After much talk about Riya being acquired by Google, the facial-recognition-software startup has decided to remain independent, according to co-founder Munjal Shah. Microsoft blogger Robert Scoble says that Microsoft also looked at the company but decided to pass.
And maybe that’s a good thing. For what it’s worth, I took a look at Dare Obasanjo’s post on how to flip your company to one of the big guys (GYM or whatever we’re calling them now), and I wound up agreeing with Paul Kedrosky on the subject (and no, not just because he’s Canadian). Making a flip your end goal is the wrong approach – but not because the profit motive corrupts your principles or something starry-eyed like that. Because, ironically, that approach tends to make your company into something that isn’t really worth acquiring.
To quote Paul, who said it better than I could: “The best way to get purchased by anyone — GYM included — is to build a great team, find a large and growing underserved market, build a great product/service for which people will pay more than it costs to provide, grow faster than the market, and stay paranoid that a hundred other companies are gunning for you all the time.” Well said — and now Riya can continue to do that. And for what it’s worth, some people seem to agree.