On the TechTO stage ×1
First seen on the TechTO stage in 2019. Every talk is searchable — ask the archive about Matt ↗
In their words
From the beginning we were fully committed to going it alone. We never wanted to take on capital and we didn't think we needed it.
If you follow this path, I think most importantly it allows you to build your business the way that you want to build it.
What if your exit plan is death? Founders are often very concerned about finding funding, building to a very high valuation and exiting at the peak. I'm talking about a very different situation.
Around the web ×1
Quick answers
What is Xello?
Software that helps K-12 students plan for life after high school through self-knowledge, exploration and planning. McQuillen co-founded it in 1995 and it now sells to school districts from offices in Canada and England.
Did Xello raise venture capital?
Not in its first 24 years. McQuillen told TechTO in July 2019 the company had never once taken on capital; he and his co-founders spent a year and a half building the first product and launched it in 1997 having invested about $5,000.
What makes a business a candidate for bootstrapping?
McQuillen's four tests, from the same talk: minimal capital to start, customers willing to pay from day one, room to build barriers to entry, and an industry without a ceiling on growth.