

Cataphora - Bootstrapped, Profitable and Proud - johnndege
http://37signals.com/svn/posts/2606-bootstrapped-profitable-proud-cataphora

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smoody
"When the tech-bubble burst, the VC on the company’s board left the VC firm,
the firm decided not to invest more money, and the company was forced to
sell."

Any explanation as to why they were "forced" to sell? This is the weak link in
the post. Not many companies are forced to sell in that position (unless they
give up more than 50% of their company to their investors, which would be a
bad business decision in general). If you really believe in your
product/service and your product/service is viable, you can certainly fire
everyone, buy out the investor for mere pennies on the dollars, and continue
on. I'm guessing that it was more than just the VC investment that brought her
to the point of being "forced to sell," but that's just speculation from
someone who has been in a similar position.

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middus
"For the first year and a half, none of Cataphora’s 13 employees received a
paycheck."

Who works for these bozos? Employees, not co-founders.

