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by goblgobl
5406 days ago
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Is it a lack of coverage or just strategically staying under the radar? I think the lopsided press coverage of VC-backed vs. bootstrapped makes sense when you think about the incentives: VCs are focused on liquidity events (acquisition, IPO), so their startups might aim to be in the tech press and divulge details about revenue, growth, etc in an effort to pump up their valuations. If you run a profitable bootstrapped company and you are reaching your customers, why speak to the tech press and discuss your financials? It would attract competition and I can't think of any upside. |
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I don't know about disclosing financial details, but the answer to the rest of your question is ego. Many people succumb easily to the desire for social recognition, even at the cost of strategic advantage.
Speaking from personal experience, it is sometimes difficult building a solid business that goes completely unrecognized outside of your own customers. It's a normal and accepted part of doing a boring business, but I can at least understand those who allocate resources to the pursuit of a little bit of ego gratification.