Bootstrapping Stormpulse, Part 2

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20 points·wensing··5 comments

I really can't believe that this webapp wasn't able to secure funding from anywhere after 6 fricken years, and yet we have thousands of people with literally nothing for a product valued at extravagant amounts.

Something is seriously broken with our sector.

The main thing I learned is that fundraising is a non-deterministic endeavor. Just because you have everything you think you need, there is always a reason for an investor to say no. Most commonly, during the last attempt to fundraise, it was the unproven market. The only exception was a big data VC in NY, which believed in the market but didn't invest because we weren't all in the same city yet. And of course the couple of term sheets we turned down because of poor terms.

One angel who was a huge fan of the site told us that he wouldn't invest because there haven't been enough noticeable exits in the weather space. Go figure.

Another great story from the trenches that doesn't involve killing or crushing it, but rather keep moving.

It makes me wonder how many great developers and entrepreneurs give in/up/out to the fundraising machine without finding what they could actually have done on their own. Of course, this won't fit all startups that don't have a business model.

The saying of seeking funding to avoid finding sales seems to ring true here and in a lot of stories.

Just finished reading this post. Really spectacular story. And the best thing about it? You found product market fit. And, by focusing on the pure B2B play in the near term, you've reopened you options in the long term. Amazing fortitude, too. Congrats!

Thank you sir. Yes, I do think options are open in the long term.

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