8 thoughts on “Funding Options”

  1. Interesting. Would you describe the TradeMe experience as being Burn Baby Burn, 2-Minute Noodles, or Hybrid?

    1. Trade Me was 2-Minute Noodles. The initial investment was only $100k. As a result there was never enough money to spend up large. Which is not to say that we wouldn’t have taken more substantial investment if we could have found it. I appreciate that might sound strange to say now, given what has happened since.

      Flathunt was Hybrid. In fact, the only reason that I ended up working at Trade Me was because I was doing consulting work to pay the bills.

      See:

      https://rowansimpson.com/2009/03/22/in-the-beginning/
      https://rowansimpson.com/2009/01/29/because/

      1. @Rowan

        So your hybrid experience (flathunt) actually lead you to a 2 minute noodle experience (trade me) which took you through to the “relaxed-blogging” experience.

        Cool.

  2. Good article.

    I think we will see more failed Burn Baby approaches over the next 12 months as venture capital dries up. The second round of investments will be much harder for companies to secure capital.

    Besides capital and as you say, a good idea – don’t forget the sweat component. Late nights, early mornings….

    1. Xero is a textbook example of the “Burn Baby Burn” approach, with ~ $40m invested to date.

      That would buy ~50 million “2-Minute Noodles” servings (based on woolworths.co.nz online price of $3.99 for a 5-pack) :-)

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