![]() Of the 10% seeking outside investors, less than 1% succeeds. About 90% of all startups do not want or need external investors to get going. The picture shows PCPLUS from PC&C released in the autumn of 1985 (PC&C was renamed Navision Software in 1995) Bootstrapping is still the most popular startup formatĮven though the media (traditional and social) may create a different impression, bootstrapping remains the dominant startup format today. ![]() ![]() Neither of the companies received external financial support before their IPOs in 1999. As stated in my book, Damgaard Data was profitable within one week of the launch of Danmax, while Navision Software had a loss of USD 40,000 in the first fiscal year (November 1984 to April 1986), but achieved a profit of USD 120,000 by the following year. That is, they started without the support of external investors (but perhaps with a little help from friends and family). Both Damgaard Data, that launched Danmax in 1984, and Navision Software, that launched PCPLUS in 1985, were bootstrapped startups.
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