If you’re familiar with seed-stage incubators like TechStars, you know the business model relies on their portfolio companies getting acquired.
So how does David Cohen, the founder of TechStars, motivate his young entrepreneurs to be acquired? Simply and cheaply: Their “gold t-shirt club” is a great little way to create a sense of exclusivity (and jealousy) between the TechStars companies.
A few days ago, Sensobi announced that they had been acquired by GroupMe. Ajay and Andy have earned themselves a rare gold-colored TechStars T-Shirt, with the number “08” on the back of it (they are the eighth TechStars company to be acquired). Congratulations to Ajay and Andy and to GroupMe (who adds to an already fantastic team).
David Cohen, on the TechStars blog