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Why We're Not Raising Funds

blog.omnicalculator.com

21–30 of 46 posts

Re: Why We're Not Raising Funds

#23

A lot of people believe that raising capital is completely necessary for your business to succeed. However, many do it and achieve great success. Not raising money slows growth in most cases but what you gain in control and complete ownership outweigh the the risk. It's not for everyone but I feel like raising money is the benchmark for success in people's minds. Which to me has always been silly. Raising funds is no…

Thanks. While I agree for the most part, I do think that raising money is an important validation. Often you hear about a project you wouldn't even consider interesting, but when it's accompanied by "raised X MM from Y", your perception changes.

Also, it's that head-turning thing. They say "we raised X" and you start listening. I had something similar with my downloads count. Honestly, I didn't think 1 million is all that special, but over time I learned I should start most of my pitches with. People just start to listen.

Re: Why We're Not Raising Funds

#24
post #17

Earlier quoted context omitted.

afandian, This app is just an MVP, the future hopefully is much bigger. On of the reasons is "because it's what startups do" and "everybody thinks that's the next step". I do have needs (development, content creation and in-house marketing team), but none of them are a must-have, I can do it a bit slower with whatever means I have at my disposal.

What does "the future hopefully is much bigger" mean for a calculator application? Competition with Wolfram Alpha? Unless you're doing something on that scale, I can't imagine what you mean.

Made my day, thank you.

Also from the site "Humans make mistakes. This app doesn’t."

Bold claims.

But I could imagine something like WA with a nice mobile interface being a must have app.

Re: Why We're Not Raising Funds

#25
post #9

Good read but it may be nice to add the word "yet" to the end. The author clearly says at the end that 'So, if it's going to happen, it will be because they will have knocked on our door, not me knocking on 50 of their doors" I have a very small web based business that has the potential to be a $50MM business as well but I am always worried about the same thing if investors even care to blink unless we promise a $1B…

$50MM isn't big enough. It just doesn't support most funds' basic economics. It's nothing personal about you or your idea.

Furthermore, why would you want to raise money if your market cap is $50MM? If you were to raise, you'd likely have to exit for upwards of $300-500M to have the same exact returns as not raising. A bootstrapped, $50MM company is absolutely nothing to scoff at.

Re: Why We're Not Raising Funds

#26
The idea that a couple kids that programmed a fairly trivial, albeit useful, calculator application feel like they should be raising multiple millions of dollars is what's wrong with the present state of affairs. In my humble opinion only of course.

Re: Why We're Not Raising Funds

#27
post #17

Earlier quoted context omitted.

afandian, This app is just an MVP, the future hopefully is much bigger. On of the reasons is "because it's what startups do" and "everybody thinks that's the next step". I do have needs (development, content creation and in-house marketing team), but none of them are a must-have, I can do it a bit slower with whatever means I have at my disposal.

What does "the future hopefully is much bigger" mean for a calculator application? Competition with Wolfram Alpha? Unless you're doing something on that scale, I can't imagine what you mean.

@ohquu: people calculate craploads of things on a daily basis. More often than not they're using calculators that look pretty much the same as those in the 70's. I want to make it easier, faster and more pleasant. I want people to be able to calculate things that right now they can't and aren't willing to learn how to.

"Much bigger" doesn't need to mean we're gonna send people to Mars. Solving even small problems for tens or hundreds of millions of people qualifies as "much bigger" for me.

Re: Why We're Not Raising Funds

#28
post #8

Why does your app ask for my location even when i'm not using the app?

It's a bit embarasing, but I'm not sure. I released it in June or July and didn't notice it for a long time (wasn't an iOS user). Then we've been working on a complete rewrite for a long time. The new release awaits App Store review.

You might find this useful: http://mackuba.eu/2015/03/17/accessing-user-location-data-in... :)

Re: Why We're Not Raising Funds

#30
post #24
post #17

Earlier quoted context omitted.

What does "the future hopefully is much bigger" mean for a calculator application? Competition with Wolfram Alpha? Unless you're doing something on that scale, I can't imagine what you mean.

Made my day, thank you. Also from the site "Humans make mistakes. This app doesn’t." Bold claims. But I could imagine something like WA with a nice mobile interface being a must have app.

http://www.joelonsoftware.com/items/2007/09/26b.html
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