Koditas launched with just $1,500 and required no further capital
Mitul Bid · Secret Dev Shop Top SaaS Founders Use Breaks $10m in Revenue · Apr 26, 2021 · at 16:35
Mitul Bid is the founder of software development agency Koditas, discussing the company's bootstrapped origins with Nathan Latka.
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“And that was because that was a paid up capital required. You know, you declare some money with the starting. So we put in, I don't think we can use that fully. And we've never had to follow more to the company.”
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More from Mitul Bid
Bid: Services firms struggle to scale when splitting focus with proprietary IP
“That's the biggest problem by a lot of software services companies are not able to, you know, scale well because they are always in two minds. They want to build their own IP. And they want to offer services. I saw it as a conflict of interest.”
Bid: Koditas owns zero intellectual property to avoid conflicts of interest
“We have zero IP even today. We have lots of things which are repeatable, reusable. We do not claim the IP. I just see it as a conflict of interest.”
Bid: Koditas charges up to a year of billing for developer buyouts
“I wouldn't allow you to transfer them for the first one or two years, right? And after that, it will be relatively high. I typically would take a fairly minimum six to 10, one year of a billing kind of thing to execute that.”