TE
TechEcho
Home24h TopNewestBestAskShowJobs
GitHubTwitter
Home

TechEcho

A tech news platform built with Next.js, providing global tech news and discussions.

GitHubTwitter

Home

HomeNewestBestAskShowJobs

Resources

HackerNews APIOriginal HackerNewsNext.js

© 2025 TechEcho. All rights reserved.

I Failed to Raise Investments in 2023

2 pointsby AndrianVover 1 year ago
Hello everyone,<p>I want to share my journey through 2023, a year of tough lessons and unyielding perseverance.<p>Six years ago, we embarked on creating a no-code website builder with a tiny band of developers and designers. Throughout this time, we&#x27;ve poured our heart, soul, and savings into making https:&#x2F;&#x2F;siter.io&#x2F; come to life. Despite a successful public launch a year back, our attempts to raise funds hit a wall this year.<p>We kicked off 2023 with high hopes, pitching to investors, dialing into calls with top VCs, and networking with influential industry figures. Our project sparked significant excitement, particularly after clinching &#x27;Product of the Day&#x27; and &#x27;Product of the Week&#x27; on Product Hunt. Yet, the buzz didn&#x27;t translate into investments.<p>So, why didn&#x27;t Siter catch the financial wind it needed?<p>The answer seems to be a cocktail of global economic crises, market instability, and concerns about our team&#x27;s focus.<p>Many advised against fundraising this year, suggesting we continue bootstrapping and bide our time, as the climate for young startups to attract funding has turned icy. These voices aren&#x27;t just anyone—they&#x27;re heavy hitters in our field, and their insights carry weight.<p>Then there&#x27;s the issue of the team. Investors shy away when founders are juggling multiple projects. They question our commitment. I get where they&#x27;re coming from, but isn&#x27;t there a silver lining? A multi-project founder can leverage a vast network and resources, acting like a Swiss Army knife—versatile and resourceful. I&#x27;m in this camp, working not just on Siter.io but also on https:&#x2F;&#x2F;designmodo.com&#x2F; , https:&#x2F;&#x2F;pulsetic.com&#x2F; , https:&#x2F;&#x2F;static.app&#x2F; , and supporting my wife&#x27;s project, https:&#x2F;&#x2F;absurd.design&#x2F; .<p>Ignoring the chorus of caution, we continued to pitch relentlessly, but fate wasn&#x27;t on our side. A few months in, we decided to pivot our focus solely on the product—and it&#x27;s a decision that&#x27;s starting to look wise. We&#x27;re now on track to hit profitability by Q1 of 2024, and I&#x27;m optimistic about sustaining growth beyond that.<p>In our latest push, we&#x27;ve launched a Figma plugin, both here on Indie Hackers and on Product Hunt, aiming to turbocharge our growth. Check it out here.<p>I&#x27;d love your thoughts on this. What could we have done differently? Is it a strategic misstep to be a multi-project founder, or could it be a hidden strength? Are VCs right in their cautious stance?<p>Looking forward to your insights.

3 comments

pauldentonover 1 year ago
&quot;concerns about our team&#x27;s focus.&quot; I often hear this, but don&#x27;t know what VCs actually want to hear, besides $$$
ttymckover 1 year ago
What&#x27;s the revenue trajectory? If you&#x27;re profitable, why do you need VC? (I think the past decade shows us VCs don&#x27;t want profitable companies, they want exits: would siter ever IPO?)
stanislavbover 1 year ago
if it may help, I will get siter.io on SaaSHub&#x27;s newsletter this week.
评论 #38175738 未加载