Companies rarely grow in a straight line (or the fabled exponential one). Building a business isn’t about getting from point A to point D by passing through points B and C. There are fits and starts. Amazing discoveries and heart wrenching realizations. Huge highs and low lows.
Trada – which has built a large crowdsourced marketplace for search optimization – has been through its version of this crazy growth curve over the past 5 years. We’ve learned a ton and along the way have delighted a large number of customers. But we’re having one of those non-linear moments at the business and came to the realization that we needed to shrink to grow. So we took the harsh medicine and significantly cut back the Trada staff. The result was a business that has real revenue and customers, is growing and bringing on new business, is continuing to build and innovate product and is profitable.
I bring this up because it’s been falsely reported in a few media outlets (and on Twitter) that Trada is shutting down (purposely not linkning here – any reporter who can’t even perform the most basic due diligence on a story doesn’t deserve the extra traffic). Trada is not shutting down. The move the company made last Friday was bold, dramatic and painful. But it was the best thing for the business and its customers. This isn’t the first time we’ve seen a business retrench (Gnip, for example, cut back to 6 people a few years ago before profitably growing back to 80 and counting).
As I’ve said before, building a company is often a 10 year + journey. We have plenty of distance to go still at Trada.