CHAPTER 4

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Platform Follows People

Wesabe

Lessons

Summary

Solve a real problem and the world is yours.

—Aaron Patzer, founder of Mint.com

Wouldn’t you love to launch a product and almost immediately become the leader in your market? That’s what happened to Wesabe in November 2006 when the company released its online personal financial management Web application. Wesabe accumulated a long list of compelling advantages, such as a devoted community of people who passionately helped one another save money, the ability to import and analyze bank data, and an iPhone app. The company raised $4.7 million in venture capital1 and, unlike many startups, generated ...

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