Apparently it is.
These 4 startups bootstrapped to a combined valuation of $196B!
…and why your startup name may not matter after all.
Take a long, hard look at the 20 least funded startups between 2010–2019 that IPO-ed.
4 of the startups (20%) didn’t even raise capital!
They bootstrapped their way to a momentous IPO!
They are Atlassian, ShutterStock, Skull Candy and Textura.
Another 4 of the startups are exited decacorns! (startups that reached a valuation of more than $10B and IPO-ed)
They are Atlassian, Veeva, The Trade Desk and Dynatrace.
Combined, they are worth a whopping $196.8B.
Comparatively, the 4 decacorns make up nearly 80% of the entire pie ($245.667B)!
Outliers really makes a difference to any data.
The most impressive is Atlassian.
They raised zero capital and has a market cap of nearly $90B!
Sure, it was founded in 2002 and took about 18 years to where it is.
But it makes billions in revenue annually, employees more than 5,700 people worldwide and are bootstrapped since day 1.
Glorious!
Oh and your startup name really doesn’t matter.
Oh and the next time you are planning to start your startup, remember that the name matters very little.
Evidentially, looking at the list, there are so many names that I have never heard of and I would never have chosen for my startup.
Tufin, Appfolio, Trulia, New Relic, Textura and Upland Software.
Big startups with big market caps.
But definitely not sexy and memorable names.
If you know them, you know them.
Their products and services do the talking.
Sure, your startup name is critical to some extent.
It can’t be something offensive, insensitive, crude, too abstract or random, or it will serve a disservice to whatever you are doing.
But don’t spend a lifetime mulling over it.
Just get started!
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Do you believe in bootstrapping for startups?
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Do you think startup names are very important?
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