Question

The What Went Wrong feature in Chapter 9 focuses on Devver, a 2008 startup that helped software developers use cloud-based services to "test" their code in an expedient manner. According to the feature, one of the primary reasons Devver failed was ________.

a) it didn't have a Board of Advisors
b) it didn't build a robust partnership network
c) it didn't solicit advice from attorneys, bankers or business consultants
d) the co-founders couldn't get along
e) it lacked a cofounder who loved the business side of running a startup

Answer 1

Devver, a startup aimed at software developers, failed primarily because it lacked a cofounder with a strong inclination towards the business aspects necessary for the company's growth.

Step-by-step explanation:

The What Went Wrong feature in Chapter 9 details the reasons behind the failure of Devver, a startup from 2008 that provided services to software developers. It is implied that one of the main reasons for Devver's failure was a strategic shortfall, where the startup lacked a cofounder who was passionate about the business side of the operation. When looking at startup firms, it's crucial to understand the importance of having a balanced team. While it is vital for founders to believe in their company's prospects, evidenced by their investment of personal funds, this alone is not a guarantee of success. Devver's failure highlights the significance of having a diverse founding team with both technical and business acumen. This balance is necessary to navigate the complexities of a startup, from developing a robust business plan to building key partnerships and making sound organizational decisions.