Following the Mobile CRM Money TrailNovember 9, 2012 – In The News
When Facebook announced it would acquire Instagram for an astonishing $1 billion, money quickly began to pour into the mobile CRM space and inspired venture capital and other forms of startup funding to shift their focus heavily to mobile technologies.
Many experimental features and platforms are now receiving funding for proposals that could very well become mainstream offerings in the coming years.
While companies are pleased with these CRM investments, they also want to know how quickly the money will reach them in terms of a viable product. Michael S. Harrington, a partner at Fox Rothschild, believes that there isn’t an exact rule of thumb for this calculation.
“In general, a VC-backed company counts on having a five-to-seven-year lifecycle from the first funding to exiting this market,” he noted. However, that is a timing that is based more on the nature of venture capital funds that a tech market cycle.