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Sad to say my startup is part of this grim statistic. We raised capital in October of 2021 and were unable to raise follow on capital. I laid off all staff and
by dopeboy 3y ago
Sad to say my startup is part of this grim statistic. We raised capital in October of 2021 and were unable to raise follow on capital. I laid off all staff and we shut down two months ago.
Founders today are conserving cash. Gone are the days of raise money, build a big team, and grow grow grow. Now it's all about doing more with less, with slow and steady growth.
- throwaway2847 3y agoWhat was the conversation like with VCs when they turned you down for additional capital?
- dopeboy 3y agoThey'll still take meetings - it's free information so they'll never turn that down. Even if they're a solid 'no' from the outset. VCs aren't always transparent with their reasoning. Some of them said they don't believe in our category anymore. Some of them said "great work, show more growth". It's always difficult to parse the signal here. It sucks, but you can't be too hard on yourself. Many of these investors haven't deployed capital in months.