[dralison]

Last hit for me: launched solo in 1998, self-sustaining though I didn't make any money personally (kept folding it back in, worked programming contracts to live), got angel funding in 2000 and popped staff to 14, first profitable month in March 2001. Became consistently profitable in October 2001 and never again went into the red. Sold to a venture firm in 2006.

Current biz: launched in 2009. Still working on profitability. This is a long tail business so I've learned I need to be patient.

[paraschopra]

I am curious. Do venture firms buy whole businesses? I thought they invest in firms, not buy them altogether.

[dralison]

In my case it was an acquisition and roll up - they acquired my company and one of my competitors, combined the two together and brought in a seasoned executive w/ IPO experience to lead the NewCo. I was retained to be the CTO, though it's tremendously difficult to go from being the boss to having a boss and left a little over a year later.

[tastybites]

They do, but camouflage themselves as private equity firms.