The fact that good old tape vendors have done so well, also goes to show that the investment community's tendency to chase the next best thing doesnt always pay off, he says. Theres a lot to be said for investing in stuff that may not be quite as sexy." [Ed. note: Not quite as sexy as network-attached storage? Hubba-hubba!]
On average, the report shows that it takes storage companies seven years to reach an IPO and that companies that receive much more funding than average have less chance of success.
Source: NVCA, Thompson Financial, VentureOne, Company Reports, Dow Jones Factiva Database
The report also shows that companies founded by techies have a better chance of making it to an IPO or of being acquired than do companies with marketing or administrative founders. Often, investors like to see a full management team around the table from the get-go, Borchers says. But in many cases it may be better to not have anyone in business development and marketing in the company for the first couple of years.
In addition, the report shows that investors should be wary of funding companies offering technologies based on evolving or not yet existent standards. Theres a lot of naiveté surrounding how long it takes for standards to be adopted, Borchers says. Often, companies think the standards just two to three years away, but in almost every case over the past 30 years, it has taken six to seven years.
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