Threadless was founded in 2000, after Jake Nickell, then a 20-year-old web developer, won a t-shirt-design contest. With an investment of $1000, he built a website to which people submitted t-shirt designs, and the favorites were printed in limited-edition runs. Today threadless is a $40 million business and profitable.
In an interview with the founder, Jake Nickel conducted by techcrunch, he shared this with the public when he was asked- “Would you have taken a VC investment if you could have, when you started?”
Definitely not, as I was starting a hobby and not a business. It’s kind of like asking if I would consider a VC investment to help me start learning to skateboard. Sure, I’d spend a couple hundred bucks on a board, some pads and maybe some materials to build a ramp, but I’m not looking for millions or even hundreds or tens of thousands to just create something for fun. Even if I was starting a business, I don’t think I was raised that way or have that type of personality. I didn’t even have my first credit card until I was maybe 23, so I really just don’t do well with spending money I don’t have.
I like what he said to close the interview;
If you want your life to be fun as an entrepreneur, I suggest going into it with realistic expectations and to measure your success in different ways than financially.
their recent 10th anniversary is testament to how successful crowd-sourcing can be when done right. fascinating stuff.
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Wow, did Threadless really only start with $1,000? That's incredible given how huge they've become. I guess crowd-sourcing really is a good way to go.