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How OBEK got off the ground

bootstrapping

OBEK Technologies Inc is a 100% founder bootstrapped startup that hasn't taken a dime of outside investment money.

The founders have a diverse background ranging from leading a rifle platoon through Afghanistan poppy fields to being President of the student body at a computer science college. Scrapping together every dollar they owned, the founders put their funds together and created the software products starting in 2016 that are now launching in 2018.

Why Did OBEK not take outside Venture Capital money?

One of the founders of OBEK used to work in venture capital as a due diligence analyst while earning an MBA and more often than not when seeing a company "pitch" to a panel of investors, there was only an "idea" that was being pitched with no substance behind it. The startup had:

  • No clients/users
  • No proof in the words of Guy Kawasaki that "The dogs would eat the dog food"
  • Generally none of their OWN money invested
  • No actual product or prototype

These entrepreneurs were often given money by venture capitalists and treated that money as if it was "play money." Huge offices were rented, the top of the line in office equipment was purchased (such as the Silicon Valley TV show, "CEO chair"). This money was often spent on purchases that had very little to nothing to do with the actual growth of the company.

OBEK will one day seek to raise funds, but that will only be when the company has a group of happy users, has a viable business plan that is working, and simply "needs more fuel to make an already growing fire grow faster." If you are interested in one day potentially investing, reach out to us. Thank you!

fire

Mike

Part of the Mad-Duo who started OBEK Technologies.

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