Michael Yavonditte went from being a sales and business development impresario at USA Networks, Alta Vista, Juno and Ziff-Davis before developing his first startup: Quigo which he later sold for $350 million. He then raised $5 million to start Tracked.com. Now he’s on to his newest venture, Hashable.com, a relationship tracking tool that relies on social tagging.
Yavonditte tells me that he had to quickly pivot one startup: Tracked (originally a way to track and share business information) into Hashable, to take advantage of the momentum being created in the social networking space. Yavonditte candidly discusses how he makes the pivot, “We hired four or five people, we got into a room and systematically killed off one company, Tracked, and hatched another company, Hashable.” He also reveals his take on equity stakes for himself and for his employees and how he hires. Hint: you don’t need to be a straight A student.
In part II tomorrow, Yavonditte goes deep on such questions as how many shares of stock to issue and how to structure the company.