[callmeed]

They definitely exist but I think they just aren't the companies you hear about in the tech press. Remember, you don't have to be wildly profitable to be self-sustaining. You can slog it out being barely profitable or just breaking even (more or less).

I'm in the photography space and I know of companies who raised rounds years ago (2006-09). They are still around but it's clear they won't be a huge win for the investors.