After selling their product to eBay, bootstrapped “computer vision” startup Occipital may no longer need to seek outside capital for growth
Startup Trek recently interviewed Vikas Reddy, engineering co-founder of iPhone application startup Occipital, the developer of top iPhone application “Red Laser”, in Boulder Colorado. Today the product was acquired from Occipital by eBay.
Occipital, as a tech startup venture, is impressive in quite a few ways. Vikas and his partner Jeff deserve some applause from their fellow tech entrepreneurs. Check them out in our 17-minute video interview, below.
Red Laser went through the Boulder TechStars program in 2008, but failed to raise Angel or Venture capital investment, despite great enthusiasm from TechStars mentors about the founders. So they were forced to bootstrap, and as a result ended up holding 100% of the equity when they sold Red Laser to eBay. That is good news, but also bad news; we will get into that in a follow-up post. Here is our video interview:
Occipital's heritage: a 2nd floor space above a Hardware store in Beaver Island, Michigan
Vikas Reddy discussing Occipital's use of provisional patents
Way to go Vickas & Jeff!