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Explaining FNAC: Feature, Not a Company

Both Sides of the Table

I first heard the term from Chris Fralic at First Round Capital. I talked in specifics about a bunch of my investments including Factual , MongoLab , Maker Studios and Gogii (maker of TextPlus ). Feature, not a company. It has always stood out in my mind. Whether something is a feature or a company is clearly subjective.

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