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The investments came in in 1/07 and 4/07 - a total of $315,000.00 - which if you break it down leaves barely ramen money for two founders and business expenses.
by aresant 16y ago
The investments came in in 1/07 and 4/07 - a total of $315,000.00 - which if you break it down leaves barely ramen money for two founders and business expenses.
The fact that co-founder Pandit spent a full two years on this start-up is nothing to be ashamed of.
Lots of us here know the acute pain of a start-up that fails to get traction, and considering that he kept beating the drum even after seeing his co-founder leave is a huge testament to his character.
This is a terrible example on TechCrunch's part to illustrate a point they want to support about young entrepreneurs taking advantage of angels.
Can't blame them for trying though right?
- andrewljohnson 16y agoI'm not agreeing with TC on this terrible article. But, I will say that $315,000 would have been 5-6 years of money for my start-up, based on how much money my co-founder and I spent before becoming profitable. If you think ramen-living means spending more, or even as much as $50/K per person per year, you're coming from a different place than me.
- ashu 16y agoH-1B rules
- aresant 16y agoUnderstand where you're coming from, but with Buxfer I am guessing they had more costs than the average start-up. I base this on assuming that they had licensing agreements to allow for syncronising w/financial institutions. Mint.com shared some data at one point noting that their largest cost had been those API sets and access, from a cursory glance I'm assuming that Buxfer had to use similar . . .