Color was a bold bet with a very, very strong team to try to predict the future of mobile when we were all trying to figure out where it would go, pre-Instagram, pre-Snapchat, pre all that.

It raised a ton, pre-product.  It didn’t work.  Apple still acqui-hired back a lot of the team, the investors got some of their money back.

It was probably a good bet, from a portfolio construction perspective: SaaStr | Making Sense of Color after Meraki, and Going Big

Investing in Big, Proven Teams pre-product fit costs a lot.  Especially if you want to own a lot.

And while Big, Proven Teams scale better in many cases than first-timers … they often don’t get to product-market fit any easier or better.

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