HN Explorer

Ask HN: Does Gigster have monthly recurring revenue?

3 points by googlycooly ↗ HN
If yes, how is it possible? They are doing project-based work right?

If No, then how they raised VC funding? VCs always need recurring revenue, right?

4 comments

[ 3.1 ms ] story [ 26.5 ms ] thread
Etheryte
What makes you think recurring revenue is a must for VCs? Many companies have been funded without even a working prototype.
googlycooly
Oh yea, that's the hardest part for me to understand. Sometimes I think VCs are stupid for throwing money into crappy things.

Do you think there is some secret behind VC investments? I mean, are there any other motive other than the intention of doubling or tripling their invested money?

zubairq
Tripling their money is considered a failure as a VC. Only investments that can return 100 to 1000 x are considered for earlier stage startups
Etheryte
There seem to be some false dichotomies here that are based on some hidden underlying assumption. I would recommend reading [1] to try and unriddle some of them. As a general idea, there is no secret behind VC and there never has been. To attract money, you need to either provide something that's already valuable or something that has promise of being more valuable in the future.

[1] http://paulgraham.com/lesson.html