What constitutes a successful startup? If you ask the global entrepreneurship media, they will tell you financing. Ask naïve entrepreneurs, they will tell you the same.
But I have always believed that a successful startup is a function of customers, revenues and profits. Financing is optional. You identify a market gap, build a product to address the gap, develop a business model, and generate revenues and profits.
ifood.tv has done just that.
In 2006, co-founders Vikrant Mathur and Alok Ranjan were interested in honing their culinary skills. However, they found that text-based instructional sites were sorely lacking in their instructional capabilities and incorporated no means of reaching out to recipe authors with questions – not to mention there were no visual elements to speak of.
To read the original article: A Bootstrapping Recipe to $3 Million
