It was easier to raise money for my company with no revenue vs. the company that did. I realized it was because without revenue there was no trajectory, sky was the limit and anything was possible. I’ll be raising pre-rev from now on.

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If you don't have revenue then you better have good user growth. Otherwise, you have nothing to prove that you're a viable business. Snapchat has no revenues but they're growing like crazy, so every VC who can will throw money their way.

Are you B2B or B2C?

Yep; exactly so, OP! It is far easier to raise on a dream than with metrics.

Best proof yet we are close to a bubble. Time to get out of the market.