Why did you decide to bootstrap MyNewTerm rather than seeking institutional venture capital?
Replied byWayne Cartmel
Founder & CEO at MyNewTerm
Niche: Edu
Revenue: Approx. 540,000 USD/month
Location: Silsoe, Bedfordshire, United Kingdom
Started: 2015
It never crossed my mind because we were so small and unsexy that no bank or venture capitalist would have given us money. I realized the only way to make it work was to back myself, get into personal debt, and fund the software development out of my own teaching salary.
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