Since I’ve gotten into the VC business I’ve often advised founders that venture funding isn’t a pre-requisite for building their company.
Sometimes venture capital is an excellent way to fund deficits during the leap of faith stage and beyond.
But there are multiple other ways to fund a company.
There are plenty of companies that have “made it” with and without venture capital.
A few years ago we seed financed a promising new startup called Svpply. We were taken with Ben Pieratt’s creative brilliance, the product and vision.
Unfortunately it didn’t work out and eBay acquired the product. That didn’t work out either post acquisition as eBay is now shutting Svpply down.
Ben isn’t happy about that so he’s creating Very Goods, as the new Svpply. And this time he’s decided to not raise money from investors and he’s not going to be the CEO. Instead he’s crowdfunding his product.
I do know Ben is highly talented and this new model may be the best fit for everyone - founders, community, early backers.
I was proud to back Ben the first time and I’m proud to support him again on Kickstarter. Here’s the link
Let’s try this again.
I’m excited as ever for Ben.