
Bootstrapping Stormpulse, Part 2 - wensing
http://wensing.tumblr.com/post/26830276239/bootstrapping-stormpulse-part-2
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run4yourlives
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.

~~~
wensing
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.

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j45
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.

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sdelong
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!

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

