Are all VCs evil?
As some of you know, I've been working on my side project Party Stream for some time now. My goal has been to release early and often. This would allow us to have people use the app and itterate through to polish it as much as possible.
When I realized it was taking me way to long by myself, I decided to invite my closest friends to help me out. Keeping in mind that we've been solely working on this on our spare time, it's been moving a long but not as much as I'd hoped.
Since then, I've met with some startup people in Montreal and they've told me about the incubator programs and the inevitable hunt for VCs. I was never a fan of VCs - mostly because I'm uncomfortbale with the idea of non I.T. people running a software company.
The issue is, however, that the only way for us to put in the time required, we would need to work full time. And that's basically where VCs come in.
Still undecided on the idea, I came across a new iOS app that one of my good friends told me about. It's similar to Party Stream, but it's specifically for wedding parties. Rightly so, it's called Wedding Party App.
TechCrunch did an article on them, and in it, I saw a bunch of similarities between them and us. We have the same goals, and vision for our apps. They released when I originally wanted to release (this summer). They started with iOS and ported to Android later. They are also introducing a web-based app that will include more functionality. All of these are basically in the pipeling for Party Stream - just waiting to be done.
When I asked myself "how were these guys able to release before me" I saw that the answer was right in front of me.
They received quite a few VCs and angel investors to back their idea. Knowing this now, if an app like that can get that kind of backing, then there's no reason why an app like Party Stream shouldn't get some attention.
Bottom line is, do I want VCs or angel investors? Or should I stick to my guns and just have our team continue to work on this part-time and release it whenever it's ready?
Please leave a comment and let me know your thoughts.