Funware Development sold

Funware Development is a small startup I started a year and a half ago to develop games for social networks. A few weeks ago I pulled the plug and sold it to a company from Moscow.

Funware Development was a really lean startup. So lean that the max number of employees working for it (myself excluded because I didn’t get salary) was 3. Nevertheless, we delivered over 10 games and applications to Odnoklassniki, Moi Mir and VKontakte social networks. The total number of installations of these apps is just under 14 millions. Several months ago we were among the top 20 companies (for Russian social networks) based on these numbers. Despite the large number of users, the monetization didn’t go well, and eventually it became clear that the thing just wasn’t worth the trouble. If you are interested in numbers, the total revenue (including the sale of the company) was about $26K with all the costs totaling in about $26K. That’s right, the total profit over the startup’s life is about zero. It’s not as bad as it sounds, because most startups don’t even recover the money that were spent on them.

We surely made many mistakes along the way, and it is clear that we could really make it work. The hindsight is always 20/20 though. I’ve learned so many new things that no amount of reading other people’s blogs could deliver. Lessons learned, moving on.

The picture above is an actual screenshot from the site before I took it down.


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