Steli Efti
๐ค SpeakerAppearances Over Time
Podcast Appearances
Okay.
We're kind of a monster in the middle.
So Close.io is self-funded, but if you give the whole story, when we started the business, we went through IC, we raised a seed round on convertible debt, and then we pivoted that business into elastic sales, which was a services business, and we bootstrapped more or less elastic sales, and then we launched Close.io as a fully self-funded product, and we never raised a penny afterwards.
So legally, since it remained the same legal structure as a business, we had raised money for this business, but we've never,
Ah, that's a good question.
I think, no, no, we were before that.
We were the first ones to get the surprising 100K from the Russian billionaires.
So when we launched, it was like, I think, 25 or 50K for 5% or whatever it was.
And then we got a surprise additional 100K or whatever it was back then.
No, that's not true.
That's not true.
We raised a little bit over a million a few weeks after graduating from YC.
Okay.
So when we started the original business, which was something completely different, we had, you know, 1.3 million or something, 1.2, 1.3 million in seed funding.
That business, you know, within a year kind of didn't work out and we pivoted into elastic sales and we had a few hundred case the left.
And Elastic Sales turned into this thing that was generating revenue, was like the services business.
And by the time we launched Close.io, there was no money left and we were profitable.
Well, I had to think about, like, have we thought about raising money?
Sure.
Have companies approached us about buying us?