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PayPal and Slide founder shares lessons on identifying a market opportunity
Here's your lesson of the day! At Vator, we have thousands of sage advice from seasoned entrepreneurs. Many have asked if we could showcase one every day as a constant reminder of what it takes to build and scale a startup. Some are oldies, but goodies! So here you go! Today's lesson is from Max Levchin, founder of Slide and PayPal and an active angel investor.
According to Levchin, "the trick to succeeding in a startup is to figure out what doesn't work... and change... The key thing for Slide was figuring out that the desktop was not outside the browser, but inside the browser." Slide was eventually bought by Google for a reported $228 million.
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Slide is the largest personal media network in the world, reaching 144 million unique global viewers each month and more than 30 percent of the U.S. Internet audience. We help people express themselves and tell stories through personalized photos and videos created on Slide.com and viewed anywhere on the web or desktop.
Slide's products — including Slideshows, FunWall and SuperPoke! — are popular on top social networking and blog platforms, including MySpace, Facebook, Bebo, Hi5, Friendster, Tagged and Blogger. Slide is also the leading developer on Facebook with more than 84 million applications installed and the most active users than any other developer.
Launched in 2005 and founded by PayPal co-founder Max Levchin, Slide is backed by Mayfield Fund, Blue Run Ventures, Khosla Ventures and Founders Fund.