Startup rumored to be acquired for $60M before they even launch

Wow, talk about a great burger!

There’s apparently some hot and heavy rumors flying around the Valley that Riya, a cool company that can do facial recognition on your photo collection (Imagine searching for all the photos with “mom” and “baby” in them!) was acquired by Google for $60M.

What’s even more interesting is that they didn’t even officially launch the company yet! Apparently they are (were?) going to launch at a party this Friday.

Riya was started with $4M.

Hmm….invest $4M, flip for $60M. Not bad. Not bad at all (depending of course on the pre money valuation at which the $4M was invested). Some say they sold out too soon, and that may be true, but that kind of thinking is based on a belief in Scarcity, not Abundance. The Abundance way of life says there are many more Riyas waiting to be built. The Scarcity way of life says there’s only one Riya and it’s your only chance to succeed.

I believe in Abundance.

Hat Tip:

Nial Kennedy
Om Malik
Paul Kedrosky