The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
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Reynolds: BriteCore would have scaled faster by raising venture capital earlier
“What I learned at the end of it, by the time I went and raised money was boy, I could have got a lot done a lot faster. Had I just gone out and raised money to begin with.”
Reynolds: Enterprise software cannot be effectively built with small bootstrapped teams
“Those enterprise customers need enterprise features and it's just really difficult to build that with, you know, two or three people bootstrapped in a garage somewhere. You need real, you know, professionals with real resources, real access to customers.”
Reynolds: ClickUp and Monday.com only solve task-list project management
“And what that really means is what makes it different from, I know you've had Zeb on before with ClickUp and ClickUp's an amazing product. Monday's an amazing product. They're all amazing. They're all solving a different problem than we are. They're solving so…”
Reynolds: Early freemium tiers signal that enterprise software is worthless
“A lesson I learned a long time ago in building enterprise software is your software is worth what you say it's worth a lot of times. Early on. And so if you tell people it's worth nothing and you offer a freemium tier, then it's kind of worth nothing.”
Reynolds: Advisory boards convert enterprise experts into early adopters
“We set up some advisory boards and I strategically invited some people to that advisory board that I knew might be future users of my software. Number one, because they're experts in the space and they know how to advise and guide the team on building the best…”
DevStride split equity 50-50 between cash-funding and engineering co-founders
“And so the way we set it up there's myself, my wife Kui Tim Hoja and another gentleman, Aaron Salaf, who are the founders. There's four of us and the two of us kicked in the cash. We took 50% of the equity. The other two of them really brought a lot of additio…”
Reynolds: DevStride keeps software development fully in-house at early stage
“Development we keep totally in house. I do not fully trust development to go out the door at this early stage.”
Reynolds: BriteCore grew from $900k to $20M ARR after raising capital
“Before the first dollar of external capital, we were up to about 900,000 a year in ARR. And then you know, we raised that money, took it to about five million and then went from five million to about twenty million and cutting into the series B.”
DevStride raised a $3.3M pre-seed at an $8M pre-money valuation
“So we raised that at an eight million dollar pre, and so we negotiated the pre to be stable, and then the amount we raised would be the amount that we diluted beyond that.”