Tradeshift – pioneer then disappear?
I wrote recently about Tradeshift’s new instant payment model. I was enthusiastic. I still am. But I had some misgivings – quite serious misgivings actually.
The thing about taking a disruptive approach in any market place is that you have to be very sure of yourself. Not in an arrogant or conceited way. Sure of yourself in the sense that you are sure that you’re going in the right direction – sure that you have the right team and most important of all, sure you have the backing to survive what could be a difficult journey.
Tradeshift are taking on more than the e-invoicing players. They’re taking on the banks too. They’re developing a new model that could change things and their competition aren’t going to take it lying down. My concern was that without some serious financial backing, Tradeshift are likely to go the way of many before them – pioneer, then disappear.
But then I read this in the Wall Street Journal.
Tradeshift secure $17 million of funding
Apparently valuing Tradeshift at $138 million, their new investors have assured Tradeshift’s future at least for the near term. Now the hard work begins. They’ve made big promises and they’ll be expected to deliver.