Startup

Startups That Started With Little or No Money

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Today, it seems like you need a lot of money to start a successful startup. But that’s not always the case. There are many businesses that have been started with very little capital. Here are five examples:

Mailchimp: Before starting Mailchimp, Ben Chestnut was a design consultant with many clients who requested email newsletters. He decided to create a tool that would automate the process. MailChimp, a $400 million run rate business with over two million customers was founded as a result of this invention.

Lynda: In the late 1990s, Lynda Weinman was a teacher in search of better resources to instruct her web design students. She found that the current offerings at bookstores were unsatisfactory, so she took matters into her own hands and began producing educational training films. She spent two decades developing a content library and tech assets that were large enough to persuade LinkedIn to pay $1.5 billion for the company.

GoFundMe: The founders of GoFundMe were able to bootstrap their business to the point where it was valued at ~$600 million.

Shutterstock: John Oringer was a professional software developer as well as an amateur photographer. He combined his two areas of expertise and used 30,000 photographs from his personal photo collection to launch a stock photo service, which is now worth $2 billion.

Survey Monkey: Survey Monkey was founded during the dot-com bubble of the 90s. While it wasn’t as disruptive to its industry as some of its peers, it has proven to be more durable. It withstood the dot-com crash and gradually became a nine-figure business, only receiving $100 million in funding 11 years after it was founded.

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These examples show that it’s possible to be successful with little to no funding. If you have a great idea, don’t let a lack of capital stop you from pursuing your dream. Who knows, you could end up being the next big thing.

Source: Ajim Capital
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