Ss, fair enough as an opinion.
The definition of a "start up company", according to the article linked below, details a number of scenarios that are described as a "start up". It does appear that IOT fulfils the description of a start up.
A quote:
“A company five years old can still be a startup,” writes Y Combinator accelerator head Paul Graham via email. “Ten [years old] would start to be a stretch.”
I’ll go out on a limb and say categorically that after about three years in business, most startups cease being startups. This often coincides with other factors that indicate a graduation from startup-dom: acquisition by a larger company, more than one office, revenues greater than $20 million, more than 80 employees, over five people on the board, and founders who have personally sold shares. Somewhat ironically, when a startup becomes profitable it is likely moving away from startuphood."
btw, I'm not suggesting this definition is be all and end all of the matter, rather, the definition is reasonably loose and subject to interpretation.
Wikipedia describes a start up this way, which probably suits the point you make. A startup company (startup or start-up) is an entrepreneurial venture which is typically a newly emerged, fast-growing business that aims to meet a marketplace need by developing or offering an innovative product, process or service. A startup is usually a company such as a small business, a partnership or an organization.
cheers
IOT Price at posting:
1.7¢ Sentiment: Buy Disclosure: Held