Zak Homuth shares Upverter’s (several) near-death experiences

zak homuth

With regular press and an impressive funding round, Upverter co-founder and CEO Zak Homuth admitted that it looks the company is fairly well-off from an outsider’s perspective.

However, like all startups, Y-Combinator alumni Upverter has had a few “near-death experiences” from its inception — when the team thought that six weeks worth of burn was a lot — to today. At a recent #TechTO, Homuth described surviving a lawsuit from an American company suing for a feature Upverter had built for a client, rejecting a $20 million acquisition in the midst of raising a round that ended up falling through, and racking up $80,000 in credit card debt for payroll.

As recently as the fall of 2015, after running out of money from the SR&ED and IRAP programs, Upverter turned to its users in a last-ditch effort to raise money. “And for the last three months, we’ve been a real profitable company,” Homuth said. “If there’s a moral to this story, it’s ‘don’t die’.”

Watch the whole talk below:

Related: Upverter pitches GitHub for hardware on #TheDisruptors

Jessica Galang

Jessica Galang

Freelance tech writer. Former BetaKit News Editor.

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