Does this change your strategy somewhat in that it limits your access to capital which forces you to look at profitability sooner?
The valuation will be lower since an acquisition is less likely. Most acquirers of companies under $100m want the acquired employees to join their office. Since this is unlikely with a distributed team there will be a discount on the acquisition price of up to 50%.
There was an upside to this. Since distributed companies make for a less valuable acquisition target our investors are aligned with our plan to become a public company https://about.gitlab.com/strategy/#sequence-
For public companies being remote is less of an issue since financial metrics are much more important and in the case of an acquisition they would likely stay as a separate entity.
It is not very motivating for you and the team to build for an acquisition. If you want to go that route be careful how much you raise, every pounds has to paid back 3 to 10 times.
Would you be able to spare me 10 mins for a quick chat? I’m a first time founder and really want to learn as much as I can so I don’t screw it all up.
Are you looking for VC funding or angel funding?
If you have the ability to use foreign teams, you are probably better off taking angel funding and bootstrapping.
Remember, VC's want "up or out". "Cheap remote workers" isn't really relevant to that to a first approximation.
In fact, some VC's will look at it as a detriment. They wanted you to spend that couple million and succeed or go up in smoke. With cheap remote workers, you look at that couple million as 3+ years of runway for really solid organic growth.