Almost every company needs some amount of funding to get started. But startups often raise money even when they are or could be profitable. It might seem foolish to sell stock in a profitable company for less than you think it will later be worth, but it's no more foolish than buying insurance.
Fundamentally that's how the most successful startups view fundraising. They could grow the company on their own revenues, but the extra money and help supplied by VCs will let them grow even faster. Raising money lets you choose your growth rate.
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An important read for anyone thinking of starting up a company.
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