5 full time staff, an office, flights, marketing expenses - that all ads up. Apparently we were burning a third of what a startup at our stage normally is with our team size, and I even thought that was a lot.
Was your office in SF (SOMA?). What marketing expenses -- were you paying for user acquisition on mobile? Were you flying to Australia and back?
Lasting 4 years on 700k with 5 people and no income (or even 2 years) with some other minor expenses is relatively low burn, though. We budget 100k+~ / person / year. If your app involved shipping dresses to your office, unfortunately you need to run the ops for it and handle physical objects :(
Lasting 4 years on 700k with 5 people and no income (or even 2 years) with some other minor expenses is relatively low burn, though. We budget 100k+~ / person / year. If your app involved shipping dresses to your office, unfortunately you need to run the ops for it and handle physical objects :(