News for hackers. Stuff that matters.

A comment on Lessons from Bootstrapped Companies Founded by Software Engineers.

Re:Lessons from Bootstrapped Companies Founded by Software E... by Animats on Sunday October 08, 2023 @05:37PM (#37814638)
Autodesk (ADSK, market cap US$45 billion, founded 1982) is a bootstrapped company founded by software engineers with their own money. Mostly mainframe UNIVAC systems programmers in their 30s. No VC funding; the IPO came well after profitability.
[ Parent | on HN ]
Re:Lessons from Bootstrapped Companies Founded by Software E... by phonon on Sunday October 08, 2023 @10:23PM (#37816313)
This was the VC term sheet they rejected, for reference...it's pretty bad! :-)

https://www.fourmilab.ch/autofile/e5/chapter2_32.html

[ Parent | on HN ]
Re:Lessons from Bootstrapped Companies Founded by Software E... by thenobsta on Monday October 09, 2023 @09:32PM (#37827610)
"Frank Chambers chose to forgo an investment of $500,000 which, if held until the stock price hit its 1987 high, would have appreciated to more than $37 million."

Oi, hindsight is great. The '87 high was about $3.50. ADSK is sitting at $210 today or $2.2B for that 500k investment.

[ Parent | on HN ]