Tag: closing down a startup

HelpSocial Founder Matt Wilbanks Talks About Being Too Early and the Long Game
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HelpSocial Founder Matt Wilbanks Talks About Being Too Early and the Long Game

How do you know when it’s time to shut down your startup? HelpSocial chief executive officer Matt Wilbanks and chief technology officer Robert Collazo decided in late 2019 to close the company after six years of operations. The duo met while working at Rackspace. They developed a platform that collects social media comments into one dashboard to make it easier for companies to track and respond to customer service concerns. They launched their startup in 2014 to help enterprises address customer service issues on social media channels, selling its software to corporate call centers and other large businesses.  Over six years and six venture capital raises totaling $3.2 million, a business model pivot, and software as a service (Saas) platform redesign, the founders discovered t...