> In that time-span we've been able to create the core product in terms of basic functionality: this includes the functionality that any iteration of our final offering will need. It's a pretty well-oiled machine of planning, building wireframes, development, final design/interface decisions, and user-flow integration.

Can anyone with experience post quick step-by-step instructions on this type of product development? I.e. if I just got an idea for a web app, what would be the quickest way to flesh it out?

I'm not picking on these guys in particular, because it's a widely used phrase, but does the English language really deserve "liquidity event" instead of, say, "selling the company"?

What about IPOs, or a leveraged management buyout? Just because acquisitions are the 'en vogue' liquidity event doesn't mean it's the only kind.

I agree that liquidity event is a more accurate term than "selling the company". If you are looking for something less formal, you can use "cashing out".

While we're on the topic of language: Parker, you may want to read http://en.wikipedia.org/wiki/Parallelism_(grammar) -- the incongruity between "are" and "it's" in your sentence ain't right.

While you're at it, please also dispose of "functionality".

I love the obligatory photo in front of MIT! I'm guessing it is from the day before convocation.