May 24 (Bloomberg) -- To start their company and get its first product out the door, the founders of software maker 280 North Inc. needed little more than a half-dozen computers and a roof overhead.
Francisco Tolmasky, Ross Boucher and Tom Robinson kept costs in check by using code available free on the Web and renting storage on the cheap from Amazon.com Inc. Expenses are about $4,500 a month, and the San Francisco company -- two years after getting off the ground -- is close to making a profit.
From Silicon Valley to New York, technology startups are tapping individual investors, friends and their own savings to fund operations and product development. That helps owners keep greater control of their companies and more of the equity. After only raising about $100,000, 280 North says it has plenty of cash to get another product to market.
To read the full, original article click on this link: Technology Startups Go Lean as Software, Storage Costs Plummet - Bloomberg.com
Author: Ari Levy