This startup was rejected 70 times and is now worth over $1 billion

startup rejected 70 times now worth billion dollars signpost  venture capital
Creative Commons
“Never give up”, “Don’t let failure stop you”, and “Never quit” are platitudes so overused that most tend to tune them out. Those in the technical startup realm may be more likely to ignore positive thoughts lately with tightening in VC funding. Rob Hull’s message to startups is to ignore the distractions and stay focused on your business. Unlike some cheerleaders out there, Hull knows what he is talking about and he never claims it is easy.

Hull is the founder of Adaptive Insights, a financial software company that is now worth over $1 billion. Hull shares his startup experience with other startup founders, and his message advises them to focus on the things startups can control rather than all of the factors that they cannot control. Sure, his company now has more than 3,000 customers in 85 countries, and the Gartner Magic Quadrant survey named Adaptive as the only all-cloud-based software this year, according to Business Insider. However, success was not something that Hull always saw as just over the horizon.

Hull said venture capitalists rejected his startup 70 times before the company finally secured funding. Hull does not sugar coat his success story, and paints a realistic picture for other startup founders. At one point, Hull had to stop taking a salary and considered selling the company. He struggled to convince CFOs and controllers that financial data would be stored in the cloud, but eventually the idea took off and so did Adaptive Insights.

Hull suggests that anyone with an idea needs to apply all of their focus on developing that idea or business. The better the product or service is, the higher chances are that a startup will receive funding. Hall also recommends that startups keep a close eye on costs and make shrewd spending decisions. Capital is a scarce commodity for a startup, and a closely managed cost structure could just be the key to success a startup is lacking.

While it may not be a great idea to take advice or criticism on a business idea from a family member or neighbor, Hall succeeded where others could not. It was not an easy process, but he credits determination and focus as his keys to success. So, if you tend tune out the other platitudes of “don’t quit”, it may be worth tuning in Hall’s message. It worked for him, after all.

Emerging Tech

Awesome Tech You Can’t Buy Yet: camera with A.I. director, robot arm assistant

Check out our roundup of the best new crowdfunding projects and product announcements that hit the web this week. You may not be able to buy this stuff yet, but it sure is fun to gawk!

Lyft and Aptiv’s self-driving car program has come a long way (but not far enough)

Many companies talk about self-driving cars, but Lyft and Aptiv are already using a fleet of them to transport paying customers in Las Vegas. Hop in for a close look at the tech of autonomous cars, and the challenges they face.
Movies & TV

Here's everything we know about 'John Wick: Chapter 3 -- Parabellum'

John Wick: Chapter 3 -- Parabellum, the third installment of the wildly successful action series that stars Keanu Reeves as a deadly assassin forced out of retirement, hits theaters in May 2019. Here's everything we know about it so far.

This A.I.-powered camera follows the action to produce epic selfie videos

Want to capture more epic action selfies? The Obsbot Tail is a camera-gimbal combo that uses artificial intelligence to follow the action. Using a handful of different modes, the camera works to keep the action in the frame.
Home Theater

Not chill: Netflix is hiking prices across all its tiers

Netflix has to get the billions of dollars it's spending on new content from somewhere. The streaming giant announced price hikes across the board, raising its monthly rates between $1 and $2 per tier in the next few months.
Movies & TV

NBCUniversal will launch its own streaming service in 2020

NBCU is prepping a streaming service filled with its original content for a debut sometime next year, meaning that Michael, Dwight, and the rest of the Scranton crew might be moving to a new home.

Benchmark results show Snapdragon 855 destroys previous-generation chip

Almost exactly a year after the launch of the Snapdragon 845, Qualcomm took the wraps off of its next-generation mobile platform, the new Snapdragon 855. The new chip puts an emphasis on A.I. performance.

Apple’s iPhone battery offer was reportedly way more popular than expected

As many as 11 million iPhone owners reportedly made use of Apple's cheaper battery replacement offer that launched in 2018 in response to the iPhone throttling debacle — some 10 times more than the company had apparently expected.
Home Theater

Cord-cutting has grown by 48 percent in 8 years, according to Nielsen

People are continuing to ditch cable but not all cord-cutters are the same. In fact, there are two distinct groups within the cord-cutting universe, with a very small, yet growing third group that's worth paying attention to.

Huawei in for a rough year as feds investigate alleged trade secrets theft

Huawei is also facing issues in the U.S., but it doesn't seem like that will end any time soon. According to a new report, the company is facing a federal investigation in the U.S. for allegedly stealing trade secrets.
Emerging Tech

Glowing space billboards could show ads in the night sky

Look up at the night sky in 2020 and you might see an ad for McDonald's floating among the stars. A Russian startup is working on a project that uses a constellation of small satellites in low-Earth orbit to create glowing ads.

OpenTable points can now be used to whittle down cost of a hotel stay

Have some OpenTable Dining Points built up? Now those points can also be used to make your own hotel discounts. OpenTable is teaming up with Kayak to use points as discounts on participating hotels.

Tesla cuts workforce by 7 percent, ends referral program to trim costs

Tesla has announced plans to trim its workforce by seven percent, and it will end the referral program that rewards customers who help it sell cars. These measures are ways to cut costs and boost profits.

Google is buying mysterious smartwatch tech from The Fossil Group for $40 million

Google is about to step up its smartwatch game. The company has agreed to buy an unnamed smartwatch technology from The Fossil Group for a hefty $40 million. Considering the acquisition, it's clear Google is serious about smartwatches.