GitHub is another company that started as a private solution. Coders Tom Preston, PJ Hyett, and Chris Wanstrath were all using Github, which is an open source version control software. When they found they had trouble sharing their code with others after creating it, however, they decided to make a solution. The solution–GitHub–began as a simple weekend project for a group of coders. They funded the minimal resource needs–hosting and a domain–and shared the tool with friends.
It wasn't long before GitHub went the way of Carbonmade, with word of mouth spreading the product outside of the founders' social circles. At that point, the trio decided to launch GitHub as a business. Together, they were able to cover initial formation costs, but they didn't have enough cash to support themselves as fulltime employees. Instead of seeking immediate investment and spending cash resources on themselves, they worked other jobs and did consulting work to pay the personal bills while they grew the business.
By 2009, the company boasted 100,000 users and an award as the best bootstrapped startup. By 2012, GitHub was stable and impressive enough to score $100 million in investor funding from SV Angel and Andreessen Horowitz.
Ross Blankenship is an expert on startup funding, angel investing and venture capital.
Ross Blankenship is also the Founder and CEO of AngelKings.com. Angel Kings is an investing platform that provides accredited angel investors the opportunity to invest in top startups and companies in sectors like cyber security, biotech, mobile, data and financial services. Angel Kings provides both venture capital funds for startup investing as well as private equity funding for early and middle-stage investments.