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February 01, 2015

YoCAPTCHA - Yet another founder breakup - but thankfully managed success despite - story

From The Mint profile:
In June 2012, a clutch of investors—part of the Mumbai Angel Network—approached Gupta. However, the presence of a third dormant partner—Agarwal—remained a concern. Agarwal, who had not yet left the company on paper but was inactive in day-to-day operations, left the investors jittery. In the final stages of the term sheet being signed, a dispute between the three partners led investors to back out. It was a very stressful period, adds Gupta, explaining that there were times when he thought of giving up the venture.
By the end of 2012, it was very clear that Agarwal would not be returning to the venture. However, good news appeared in the form of a strong order book with advertisers such as Reliance 3G and Proctor and Gamble getting on board. Digital advertising networks such as Networkplay Media, then part of German media group Bertelsmann, became regular marketers of Yo!CAPTCHA. In May 2013, Networkplay offered to buy Yo!CAPTCHA, from Innovese. The acquisition was completed in June 2013.
...“Managing people was a key part of our business; also, don’t be focused on the money, it will come,” explains Gupta. And “start young”, no amount of education can teach you what a start-up can, he adds.
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