Picnik's Jon Sposato on Why He Didn't Take VC: "We were Greedy"
Picnik's Jonathan Sposato helped orchestrate one of the Seattle tech community's highest profile M&A deals of the year when he sold the online photo editing service to Google. The feat was even more impressive given that it marked the second time that the 43-year-old Internet entrepreneur had sold a company to the search giant. And Sposato did it all without taking a dime of venture capital.
So, how did he pull it off? Sposato offered his thoughts on bootstrapping as well as his tips for selling companies in a talk at Seattle Lunch 2.0 last Friday. We were there, taking notes and shooting video. Here are some of the highlights, including Sposato telling the crowd that he and co-founders Mike Harrington and Darrin Massena didn't take venture capital money because they were "greedy.
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