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GroupMe Goes to the Big Leagues

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    Young Guns Reloaded: GroupMe co-founders discuss their reported $85 million acquisition by Skype

  • Duration 5:26
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Last November I interviewed entrepreneurs scared pact and Steve -- Tennessee that you have created the group texting startup group me.

Only three months earlier and today a little over a year later the company which allows you to send text messages to multiple recipients all at once was but -- escape -- reported 85 million dollars.

They're in studio with me today.

Hey guys how you do -- rate at -- area so laugh hug the last year bands do you expect you would be where you are today now.

It's been a fast year through quick yeah a lot of happen that -- feels like five years and but compressed in the one.

But a year ago when He started the company did you intentionally.

Know that you're going to be selling the company quickly.

-- and I don't know if it wasn't maybe it wasn't it was quickly about -- -- we kind of view it as quickly for us it was more about who is the most logical partner what was the biggest competitive advantage we could possibly have to kind of -- acute our vision.

So tell me a little bit about the year how it kind of rolled out.

Suddenly started building the thing 24 hours that the non.

Jar that being friends for years and than that it just kept kind of snowballing it was one of those things where.

All the sudden we are raising money all of sudden we left their jobs also mean a team of five -- in the studio apartment.

That we had an office that we met you and did our interview and then raise around and it -- came.

It's in fast -- tell me about the DO expect.

I'm so that the deal with Skype.

We think is is a very good one we're very very excited by the opportunity.

Really what happened was.

We started talking to them probably back in March in the nature of our conversations were initially around commercial partnerships -- things that we can do together -- product couple.

And at the conversations gradually evolved.

We learned that their overall vision it was very similar to our overall -- and back -- say they were pretty perfectly aligned and we were dropping that a white board like I get up -- -- that thing.

And then a meeting with Tony -- their CEO He actually took the -- out of my handed -- -- it.

So it was such a perfect alignment what we wanted to do -- how we wanted to execute it.

That it made total sense for us so now you're continuing on with Skype cracked so we're continuing our Skype and we're also continuing -- after -- we're saying in New York City.

I'm -- is remaining it's an application.

And it sort of business as usual for us.

Tell me how you guys about when you realize that you were being opt for 85 million dollars so the terms of the deal are still undisclosed -- had have to throw that out there.

But it was it was a very good feeling I think the best feeling was that no 11.

Day we we woke up and we have our user base in the next day we woke up and we had.

Skype's close to 200 million monthly active users I think everyone's big peer group and it was like to build a great product and the world didn't get a chance to see it.

And that when you all of a sudden have access to their 6600 million downloads like it's pretty incredible if you're really taking this thing to the next level.

How do you keep that entrepreneurial spirit now that -- part of a larger company.

So expect has really embrace that and they've got hurt just to maintain that I think part of that is that is sure that scrutiny -- scrutiny in New York City.

Making sure product remains a standalone application.

-- -- really just giving us the resources that we need to continue we were doing before.

They're keeping us dedicated to the products -- neither are fully dedicated to make group is biggest success is possible and we keep hiring and we we keep to overdo it.

Now tell me about having a tech company in New York what are the advantages what are the disadvantages.

Well I mean there's less overall talent in the valley necessarily but there's other great things here like access to media.

High population density which is really great for real world tools at a -- lets you kind of work outside the bubble where -- really interacting with -- real people in the city in an urban environment.

-- get really quick user feedback so that's what have you learned in the last year.

Everything and how you have to well I think a whole new world like -- the -- -- How hard you can push yourself and every day you realize it's more and more and more and it's kind of an unbelievable thing just keep going going -- -- -- that delegation.

As what is amazing things -- be on the trust people and outsourced tasks and and build a team.

This -- in the biggest learning experience for me.

And Steve I know you give.

Creating companies before or so is this something that you're looking to do again in the future but never created something -- because that's -- -- but I think you know for me I always wanna solve problems I think -- as well like.

I don't see us in our lives not doing something again it's Saddam -- startups in your future I've -- hopefully -- -- be considered young when we do it then come back gravity but but the good thing -- for now we still a long ways to go -- -- Really excited about that.

And it's really been a whirlwind every year for you because on top of this you just got married correct I did.

OK exit very much -- how are you gonna topic in 2012 is gonna -- -- yeah I don't know I can.

We are used talking about that was Steve that really -- and -- and -- -- way that's a great to get away didn't go to the mountains of Colorado and see them but what you articles are the -- was.

I was thrown it's always nice when I get thrown into a -- meeker that I don't create I was sort of around five different groups -- networks the entire media gallery you know -- -- so font.

And then during the wedding like my name wife's sister could not make it so they had an iPad and they -- the entire thing to your -- over Skype so yeah.

-- that we isn't it time we -- -- -- me and Scott I enter a -- -- I think so.

Very good I mean a lot and I'm happy to hear me that's -- a great time and it's great to see you guys -- see that everything is so much for coming and I think there.

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