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can you really raise millions without any documentation at all? Yes, of course. Do you think Instagram had a "balance sheet" when they went to raise money? Rep
by rdouble 13y ago
can you really raise millions without any documentation at all?
Yes, of course. Do you think Instagram had a "balance sheet" when they went to raise money? Replace Instagram with any other popular startup.
- VLM 13y agoI think the key is at least from an enduser perspective instagram was a startup doing something "new". So there's first mover advantage, etc. This is a different scenario, "we're just like amazon/walmart/wholefoods but greenwashed marketing and they have first mover advantage". Even greenwash marketing isn't a new idea. Its more like competing in the restaurant arena or maybe brick n mortar retail than real "startup".
- rdouble 13y agoIt seems like in 2010 it would have been easy to get funding for an e-commerce site because investors all wanted a zappos, rue-la-la, net-a-porter, gilt, etc in their portfolio.
- eli 13y agoI assume they did even if it didn't have very impressive numbers. Surely they had a document that tracked balances and cash flows, no?
- tomphoolery 13y agoWhy would they have a balance sheet if they don't/didn't make money?
- jaggederest 13y agoBalance sheet isn't about making money. It's about assets, liabilities, and equity. Everyone should have and understand a balance sheet for their personal finances. You should know that your house is an asset, and the mortgage against it a liability.
- doktrin 13y agoDo they spend money? If so, they need a balance sheet.
- doktrin 13y agoWhy is the concept of a balance sheet so arcane that it needs to be wrapped in quotes? Balance sheet != profits I'm not even sure how businesses can operate without a way to organize and manage their organizational assets and expenses.
- mratzloff 13y agoHow do you even file taxes without preparing a balance sheet? Even if you're accruing a loss (especially if you're accruing a loss), you file taxes.