By now you have all heard of the acquisition of Ellipse Technologies by NuVasive for nearly 10 X sales. This multiple was a big one for our industry and a good benchmark for all growing companies. OrthoStreams readers have asked me to write about the Ellipse success. So let me try to give you a first-hand glimpse inside the Ellipse culture.
How did Ellipse do that?
I was there. In 2012, I joined the Ellipse team to lead R&D as employee #18. In my mind, Ellipse was a startup with great potential because it ticked all the right boxes – excellent management team, good financing runway, game-changing products with high margins, mostly Class II pathways and a great can-do culture. Basically, it was set up for success in 2012, but there were still many many challenges. The next four years the company executed remarkably to solve problems, move forward and create value very quickly by doubling the business each year.
As I look back, I can clearly see 10 cultural qualities that were in Ellipse’s DNA. These cultural qualities enabled Ellipse to execute and grow. Hopeful startups can learn from these 10.
#1 DON’T BE AFRAID OF THE PIVOT
Most people do not know that the Ellipse succ...
