The company has to jump off the burning platform and reinvent itself in time, says Craig Malloy, CEO and founder of Lifesize Diksha Gupta, TechGig.com If you thought that the lifecycle of a startup ends with its acquisition, think again. Even after your startup is acquired and did not work in the new set up, you can make a fresh start. You can actually restart it. LifeSize, a provider of video and web collaboration technology, has done just the same. It was acquired by Logitech but found that the purpose of acquisition was not fulfilled and decided to move away and re-startup. Re-startingup is not easy. In fact, it can be one of the most challenging experiences in the life of a startup. In a chat with TechGig.com, Craig Malloy, CEO and founder of Lifesize, shared his success story of how he restarted his startup. LifeSize positions itself as a global re-startup. Is this is a trend? I don’t know if being a re-startup is a trend but what we went through was difficult and requires a lot of courage. In the technology market, when a new generation of technology comes, things change for older technologies. Often, the one who is a leader in the old market is not necessarily the new leader in the new market. The mobile phone market is a great example of that. Brands like Nokia and BlackBerry have faded away because they were not able to make the leap. So it is difficult for companies to reinvent themselves. LifeSize is now backed by $17.5 million in funding from three prominent Silicon Valley venture firms – Redpoint Ventures, Sutter Hill Ventures and Meritech Capital Partners. The company is now focused on winning new customers as a high-growth cloud-based video collaboration and meeting platform company, and aims to tackle the $7 billion global conferencing market head-on.
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