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n 1998, Chuck Templeton started OpenTable Inc. in the bedroom of his San Francisco condo with $50,000. Twelve years and $72 million in venture capital and other investor funding later, the company has 13,000 customers in North America, Europe and Japan.
Mr. Templeton, 42, who now lives in Chicago, says the venture funding was crucial to scaling up OpenTable, which lets diners make reservations online.
To attract customers, "we needed to have as many restaurants in a city using our product as possible," he says. OpenTable used the VC money to hire sales and IT staff to drive that growth.
To read the full, original article click on this link: The great venture-capital debate: Is outside money a boon – or a trap – for entrepreneurs? | Crain's Chicago Business
Author: Kevin McKeough
