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Lemlist just refused a $30M funding offer to continue bootstrapping
by
Xavier Coiffard
https://twitter.com/PierreDeWulf/status/1365053924886142983
I don't understand the logic of attracting investors with public announcements, turning them down and making videos to criticize their operations. This can make American investors think twice before approaching French startups. It certainly does not help startups that really need the cash. I also think businesses should stay out of politics until they can afford to fund political parties or finance major social projects. The focus of a small business should be on delivering the best product or service, not giving lessons to a whole industry about how it should do business.
Mostly it's an easy to copy idea.
The investors have markt validation and funding.
It would not take much to spin up a competitor and undercut the pricing of lemlist.
Not a smart move.
This comment was deleted 4 years ago
Update: the ceo of lemlist made a video about it https://youtu.be/ybLaQDrHf0E
Yay! Was just gonna ask if there was an English version we could watch (the video in the Tweet is in French). :)
Not the same video but this time in English https://www.youtube.com/watch?v=ybLaQDrHf0E
Yep! That is the same YouTube video that @xavier posted. Yes, the YouTube video is in English, the Twitter one is not.
Omelette du fromage 😁
Takes a lot of bravery, confidence and a clear long term vision of your product to be able to make kind of decision. Turning down $5m each is bold and a very commendable move by the founders. They have my full support on their bootstrapped journey!
Yo, I saw this. Badass.
We're talking to the Head of Growth from Lemlist on Tuesday, are you coming to that?
https://hopin.com/events/lead-generation-from-scratch-ft-lemlist-head-of-growth?code=aHSLfkmOiTear3kckE19dXrz2
Not sure I can do it... I know pretty well the co-founders of lemlist we were in the same startup accelerator 4 years ago 😊