Motorola invests in file-sharing site Tilefile

While it seems most Web 2.0 companies are based in Silicon Valley, there are still some exceptions.  Take Tilefile, which is based in Sydney, Australia.  Interestingly enough, the company got the attention of mighty Motorola (NYSE: MOT) and has announced an investment (the amount was not mentioned).

Actually, Tilefile has a diverse team, including more than ten nationalities. 

Basically, the company allows people to share files – photos, videos, and audio – with friends.  But instead of relying on emails, the files are on so-called “tilefiles.”  They include descriptions and can even be embedded in websites.

For the most part, it doesn’t seem much different from other web services.  But, with the money and support of Motorola, it should get some distribution.  I also suspect there may be some mobile applications.

Also, visit DealProfiles.com for a backgrounder on the firm.

It’s the Team, Stupid

Last night, I was at a swanky dot-com event. 

One of the guests said to me:  “In a startup, the team is the most important thing.  The value of the product is about 40% and 70% is the team.”

True, he was hammered – but that doesn’t detract from his advice. 

For example, at the same event, I talked to someone who recently provided a valuation for a company that received a first round of venture capital.  He said:  “It’s kind of an art when valuing a company.  But when I saw the bios of the team, I knew why the company got funded.  The team had a track record.”

OK, this raises the question:  what if you don’t have a track record?

Basically, this is why it’s tough to get venture capital. 

And here’s some advice:

1. Get a job for a venture-backed company.  Learn how the company operates.  And network like crazy.
2. Or, if you still decide to start a company, then have a laser focus on two things:  build a product and get some beta customers — fast.  In other words, show that you know how to execute, not waste time (and money).