3 ms·
that's (imo) the downside to bootstrapping -- you're likely putting a ceiling on the company. There are only a handful of bootstrapped multibillion dollar comp
by x0x0 5y ago
that's (imo) the downside to bootstrapping -- you're likely putting a ceiling on the company. There are only a handful of bootstrapped multibillion dollar companies (github, atlassian, patagonia) and even single billion (mailchimp).
Still, that ceiling can be quite high; I know a couple folks doing north of $100m annually that bootstrapped.
- tfang17 5y agoPersonally, I'm happy building a smaller company. We're an LLC, so we're allowed to take draws at the end of each year vs. having to wait for a liquidity event (IPO or acquisition).
- x0x0 5y agoI did a vc company; my next one is 100% going to be smaller and bootstrapped if at any way possible. I definitely think it's the way to go for founders and tends to lead to better outcomes. That said, I don't think most saas -- particularly midmarket or enterprise targeting -- can be bootstrapped. You just require too much engineering (ie eng salaries) in the first couple years to self-fund.
- tfang17 5y agoBoth my cofounder and I are technical and code - helps save a lot on costs!