Startups have cropped up like mushrooms after the rain. There is a glut of startups. There are some pundits who are of the opinion that the whole scene is “bubbly”, with the bubble soon to burst. If it hasn’t already. Though there are strong arguments against that, it cannot be denied that there are way too many startups, and many of them do not achieve the success that the founders initially aimed for. There is something to be learned in failing, to be sure, but that doesn’t change the fact that startup founders would not appreciate getting bailed out when they face failure.
That’s what Jacob Mullins and his new web site Exitround is counting on.
The idea behind Exitround is to give failing startups a way out. It’s not like startup founders do not have enough issues to deal with on a regular basis. From finding suitable talent to managing the team to finding funding – they have a lot on their plates. And if the time to face failure comes around, they could sure use all the help they can get.
Exitround provides that helping hand by sending out anonymous information that potential buyers can go over. Basically, startups can post information about their employees – aggregated so that it’s not so easy to figure out their identities, as well as other key details about the startup itself.
From the other end, potential buyers browse the web site to see if any of the failing startups catch their interest. The potential buyers and startups will only find out about each others’ identities once interest is signified.
Not surprisingly, some big names have already signed up as Exitround buyers: Google and Accenture being a couple. It’s very early in the game, but with the startup ecosystem being what it is right now, Exitround may provide many startups the lifeline they need – and continue to feed bigger companies with the talent they seek.
[Image via Big Family Little Income]