A few words on Million dollar baby
Adafruit gave a presentation at Foo Camp about businesses that make money selling open source hardware. We’re ecstatic to be included in the ‘approaching a million in revenue’ category with household names like Evil Mad Scientist Laboratories, Bug Labs, and DIY Drones.
It went down like this… pt sent an email to a bunch of open source hardware people. In our case, he asked if we might hit 1 million dollars in revenue in 12 to 24 months.
We immediately hit Wikipedia because we weren’t exactly sure what revenue means. Turns out revenue is total income, before expenses (revenue-expenses=profit). That’s a lot more realistic than a million in profit, but we haven’t even been doing this for a year.
A million in revenue is 33 thousand Bus Pirates, 22 thousand Logic Sniffers, or a load of USB IR Toys. It’ll take a lot to get there, but if we keep turning out an open source project every month for the next two years it’s conceivable we might do it. With a lot of luck and a bunch of awesome supporters.
The presentation has generated a lot of interest in our relationship with Seeed, and our light-weight business model. We’ll address these in more detail in an upcoming series of posts about the business side of stuff. In the mean time you can also ask questions in the new OS hardware biz forum.
The Dangerous Prototypes slide has us in the Netherlands, but we’re actually an Iowa, United States based business (though some of the crew studies outside the US, and all manufacturing and fulfillment is done in Shenzhen, China). For more about the history of the Bus Pirate design you can read the BPv3 how-to, the preorder process we use with Seeed Studio is explained here.
Thanks to everyone who has bought a project, posted in the forum, or left a comment, your support is what makes this all possible.This entry was posted in kit biz, News and tagged Adafruit, Foo Camp, meta.