Austin founded Datto, a backup and recovery and business continuity company, straight out of college, in 2007. He didn’t use VC funding, but ran up about $80k in credit card debt to get things off the ground.
The company is profitable, which is unusual among US-based tech startups, but recently took in $75m to fund expansion efforts, such as into new places in the world (they just opened an office in Sydney, Australia) and new products (Austin talks about adding some networking products).
We talk about what it’s like to found a company without taking on VC debt, how Austin once turned down an offer to buy his company for over $100 million, and how Datto prefers to run its own data centres instead of using public cloud.
- The Datto website.
- Austin’s profile on Crunchbase.com.
- Investopedia explanations of equity financing and debt financing.
This episode of The Eigencast was sponsored by PivotNine IT Consultants and Advisors.