I’m going to riff a little longer on the B5 Media thing as they’re has been some really interesting comments worth exploring.
Rick, the VC behind the deal, commented: “Three Aussies bagging some VC coin, com’on, that’s gotta be worth something!”
To which, Aussie entrepreneur Nik Cubrilovic responded: “Actually the story of Aussies bagging VC coin (as Rick puts it) is an interesting story on it’s own – VC isn’t big down under and I am sure this is the first ‘new media’ deal”.
Which prompts the question: Would B5 have gotten to this point, without Jeremy the canuck being a pretty high profile leading man up there closer to where the action is. I dare say, probably not.
We had Darren Rowse along to our Kickstart event earlier this year and was astounded to hear Darren say at that event that he was about to meet up with Jeremy for the first time after having had this B5 gig operating for more than a year. The backstory as to how B5 has evolved is fascinating in itself.
But the fact that Jeremy, Darren, Duncan and Shai have gotten to funding point with this unusual multi-national company structure might have some value for other companies from Australia, and other such international outposts. That is, make a North American merger quick smart so that you have access to networks where there is far more access to money/parnterships/etc.
Or else, start global from start. When you’re putting together your traditional three-man startup, why shouldn’t an Aussie start off from the word go with an Indian tech specialist and a US biz dev guy. I know that’s not how startups usually get off the ground, but why shouldn’t it?
One thing I know, is I’ve seen Australians try and do it all themselves, constantly jetting to and from the US or going through the rigmerole of setting up a US office and it can be terribly draining financially, professionally and personally. I’ll be doing that to some degree myself over the next month as I head over to both the UK and US. The fact that Darren and Duncan have managed to land Canadian VC dollars without barely having to step out of the country is worth thinking about.