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It's a sign of how dominant Silicon Valley has become (at least in reporters' imagination) that when there's a successful startup outside of it, that's the headline.https://www.bloomberg.com/news/articles/2018-11-12/how-one-family-built-8-billion-startup-far-from-silicon-valley …
For me the striking thing about this story is that they started the company in 2002. Starting a startup was not fashionable in 2002. It took real commitment. That may also be one reason they didn't raise money early on. There was none to be had.pic.twitter.com/g6KKtbJ5f2
May want to revise your definition of a startup. :)
Every time I read stories like this, I wonder if they would have been as successful if they had access to VC. Bootstrapping focuses the mind wonderfully.
They didn’t take money because the father had bad experiences with VCs and told him not to
I wonder if crypto will follow the same trend.
And it was in Utah. Even harder in 2002
And it was in Utah. No one thought of investing outside the valley then, certainly not in Utah.
Was 2002 the year there were no B rounds in the US?
Was venture funding really that much larger in 2000 than it is today?
This is the story of numerous UT companies, which were 10+ years in the making and started out as family/non-tech (non-startup, in the present sense) businesses.
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