lean startup machine shanghai 2012 - lean startup "startup scaling mistakes": lionello...

Lionello Lunesu

1997: Founded COPAC I.T.

Virtual Reality Glider

Founders

Revenue

$10.000

Glider in the news

Revenue

$35.000

Dropped out

U.S.A.

1998: Making Money Is Fun

MaxZilla

$40.000

$50.000

1999: First big deal: MaxFlight

VFC

FS2000 running Virtual Flight Combat

2000: Mondo Bizzarro Ltd.

New company nameRegistered trademarkValuation: $1.000.000 (goodwill)

New projectsTwo new game contractsVirtual Reality Solution System

New office2 modelers, 2 programmers, 1 musician, 1 intern

$140.000(estimate)

®

Hoovers

Eindhoven3D

VFC 4

2001: Reality Strikes Back

Costs

>$14.000/mo.

DebtBy February

~$15.000

RevenueBy November

~$10.000

DebtBy May

~$40.000

2012: What happened?

Biggest client on brink of bankruptcyNo royalty paymentsNo new game contract

Time wasted on useless projectsNo interest for Eindhoven3DNo interest in Virtual Reality Solution System

The new game contracts did not materializeGrew too early, too fastNo stable revenue to cover monthly costs

2002In April 2002, Smithsonian Air and Space Museum featured 15 linked MaxFlight simulators with VFC.