Disclaimer: I'm an early employee there, not founder. The product didn't gain much tractions and we're underpaid to help the startup survive. Should I quit and pursue other opportunities?
Ask HN: My startup hasn't raised any funding in 3 years, is it normal?
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Re: Ask HN: My startup hasn't raised any funding in 3 years, is it normal?
#23 years is a long time to be in the 'valley of despair', if there is still no traction that is most likely the reason why there is no funding either. Growing costs money so in a growth phase investors are usually ok with expenses being substantially larger than income (that's why you need investors in the first place) but once a business has lost momentum or has shown that it can't achieve momentum they will not put their money in.
Maybe your founders simply never sought investment to begin with, but being underpaid for 3 years tells me it may be time to cut your losses and to start looking at this in terms of opportunity cost.
Re: Ask HN: My startup hasn't raised any funding in 3 years, is it normal?
#3By all accounts VCs are becoming more selective. So if your startup couldn't get funded in the past, then with greater selectivity the chances are not looking any better.
Unless you can expect something to change fast, you might be better off looking for new opportunities.
Re: Ask HN: My startup hasn't raised any funding in 3 years, is it normal?
#4Sounds like the product's best hope is that it doesn't rely on any VC funding to be a success. There must be some revenue coming in if you're still going after 3 years. As for whether it's going to start paying you what you're worth soon, I guess that depends whether lack of traction after 3 years is because it's taken a long time to get the product ready and marketed with a small unfunded team, or simply because the product market fit isn't really there or the market just isn't that big
Re: Ask HN: My startup hasn't raised any funding in 3 years, is it normal?
#5OP just what is your position? are you an engineer? a designer? is this your first job or you have some previous experience?
I would say leave if you can get a better job elsewhere
Re: Ask HN: My startup hasn't raised any funding in 3 years, is it normal?
#6It's not normal; 18-24 months is typical between rounds.
If you are gaining significant non-monetary benefits (eg learning a lot from much smarter people, really interesting problems), there might be a reason to stay, but if you are being underpaid and there is no reason to expect it to change, I would get the hell out.
Re: Ask HN: My startup hasn't raised any funding in 3 years, is it normal?
#7imagine you have a boat, and this boat has a really nice statue on it. It's beautiful, omg. one of a kind. and its worth a bunch of money, too. Like, 500k.
But oh no! the boat sunk! the statue is well protected, but its at the bottom of the ocean! You can see the statue, glimmering at the bottom of the ocean, but you can't reach it.
So you do what anyone would do, you try to retrieve it. You think to yourself "this statue is beautiful, and its worth so much money! If only i spend less than the statue is worth, then I've made money!"
You send little robots and divers and all manner of things to try and retrieve the statue. Months turn into years, but you try to get this statue. You can see it, its right there just out of reach!
And suddenly, you've spent OVER 500k to try and get this statue back. You've lost money trying to retrieve it. And its still there, at the bottom of the ocean. Glimmering and shiny, taunting you.
Basically, this is the position you're in. You've essentially been donating your potential earnings towards trying to retrieve this statue. It might be time to give up on the statue, and go find some other shiny thing.
Re: Ask HN: My startup hasn't raised any funding in 3 years, is it normal?
#8It depends on several factors. Without more info, it's hard to answer this question.
Re: Ask HN: My startup hasn't raised any funding in 3 years, is it normal?
#9Why are you even asking this question? Based on the information provided the answer is obvious. Is there something you didn't mention that is the reason you haven't left already? Do you have a few enthusiastic customers? Do you believe in the company's products or services? Do you use them yourself? Have you spoken with customers that love your company's products? Are you building valuable (i.e. specialized) skills or knowledge that will be highly marketable and want to keep ramping up before jumping ship? I could go on but the dark chocolate I just ate is wearing off...