[sharpshoot]

I think what he means here is, see the market opportunity and raise money against that, not just build it.

[jimboyoungblood]

Even if that's what he meant, it's still false.

[jpark]

Even with that definition, there was Shozu, which was founded in 2001 and raised over $36M. At least by 2005, they had significant traction with their mobile photo sharing tools.

[morganw]

LightSurf, 1995, founded by Sonia Lee and her husband Borland founder Philippe Kahn: http://en.wikipedia.org/wiki/LightSurf_Technologies