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Why searching for a VC? - Jenna Wortham: Start-ups look to the crowd

Did you know that Migicovsky and his partners couldn’t even get a foot in the door of Venture Capitalists, let alone secure any money for what he called the Pebble watch. Now they have raised $7 million of a $100,000 goal and still 18 days to go ...

New York Times :: Pebble is the latest — and by far the largest — example of how Kickstarter, a scrappy start-up sprouted in the New York living room of its founders three years ago, is transforming the way people build businesses. Founders Mr. Migicovsky and his partners did not have to give up any portion of their company to the venture capitalists. They still own 100 percent of it.

Kickstarter is already proving to be a viable alternative to starting a company the traditional way,” said David H. Hsu, an associate professor at the Wharton School at the University of Pennsylvania who studies entrepreneurship and innovation.

HT: Hunter Walk here:

"The terms on @Kickstarter are more attractive than any bank loan or venture capital amount" by @jennydeluxe (@NYTimes) nytimes.com/2012/04/30/tec…

— Hunter Walk (@hunterwalk) April 30, 2012

Continue to read Jenna Wortham, www.nytimes.com

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