Paul Graham advised Webflow to stop seed fundraising at $350K
Vlad Magdalin · 20VC: Webflow's Vlad Magdalin on The Journey To Breakeven and Raising A Monster $72m Series A, The Single Most Important Question To Ask When Determining Which Investor To Select & The Challenges of Founders Angel Investing · Nov 1, 2019 · at 17:15
Vlad Magdalin is the co-founder and CEO of Webflow. He recalls advice from Y Combinator co-founder Paul Graham when Webflow was struggling to complete its seed round.
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“And we really just tempted to, I think we went back to PG all Graham and sort of said, we only raised, we're kind of targeting a million dollars, but we only raised 350 so far. And he sort of told us this perspective is like, Hey, look, if this is like stressing you out so much, and actually you're not delivering any value to your customers right now, your users, why don't you just make the decision that this is all you need You're going to be constrained. You're not going to be able to hire any more people potentially, but there's a lot you can do with three really smart founders over the next year. And this is enough money for you to at least pay yourselves some median salaries.”
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