There are several critical learning opportunities with this case study. These include venture fund offers for investment in a start-up, utilizing the lean process for developing a product, keeping expenses low, early relationships with and analyses of developing customer relationships, strategic decision making, pivoting (changing a company’s strategic direction) and engagement with the board of directors and venture capital investors.
1. Describe the key differences between There.com and IMVU as regards product development and deployment (commercialization). Which appears to be the more appropriate strategy and why?
2. What problems did the team at IMVU face as regards revenue generation and what did they try to do to correct it? What would you suggest?
3. Which funding offer do you think is the most attractive to IMVU and why? Think critically. If you are the co-founder of the company and you and your partner own 80% of the equity, consider what the equity sales do to your shares, what you would do with the capital, how you would expect to work with the selected partner and what you would gain for your business as a result of accepting one of the offers.
4. What issues existed with the IMVU board and what would you do as CEO of the company?
5. What would you do if you were on the IMVU board? Would you have stayed on the board?
This is a complex case. And as I noted in class, if you collaborate with another student (through Zoom or some other form of safe cooperation), 10% bonus to your final score if you work in a team of 2 or more (but no more than 4).
6. Thoroughly describe the IMVU product–was it innovative? Did it solve a current problem (at that time)?
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