Companies That Avoid Venture Capital
I've talked to people at three companies lately who said they either avoided or feared outside investors, although one CEO -- 20-year-old Seth Priebatsch of Scvngr, a mobile game company -- did end up taking around $1 million from Highland Capital and says he's glad he did, because the connections and advice provided by Highland have been invaluable. Another of the companies -- a game design company in San Francisco -- was just incorporated, and its team is just starting to think about outside funding, but the third -- Groundspeak in Seattle, whose geocaching sport has between 2 million and 3 million players, around the world -- is about 10 years old and growing and has repeatedly turned away outside investment.
30 October 2009•1 min read
