Building VC-backed company in Public
Hackers, ahoy!
I want to get your opinion on building a startup in public, after accepting venture funding. What are the pros and cons. If you or anyone you know did it, what was the outcome?
We are working on a startup, and are about to close a round of funding (pre-seed). We always wanted to share our progress in public, even just to inspire people in our network to pick out a side hustle or try out entrepreneurship full time.
We are not sure, however, if accepting VC funding would prevent us from sharing updates daily/weekly, and if creating such a public track record would make it easier for competitors to copy positive steps while avoiding the negatives we want to post about.
What are your thoughts, and would you build in public after accepting VC money?
Definitely discuss it with them but I think if you can show that the transparency will be more positive for you (more exposure, more trust with customers, enhanced network, etc…) than negative then they should be ok with it.
Hey Vadim,
I would guess most of VCs would not be ok with this, but maybe I'm wrong.
If you already had started before raising capital, you could argue they implicitly agreed, but now maybe you should discuss it with them ?