""Bootstrapping" is a funny term. In the context of startups, it means to proceed without outside funding. But of course it derives from the phrase "to pull oneself up by one's bootstraps." More generally, it's about lifting oneself up. In one sense, Relationship Science is the furthest thing from a bootstrapped company. To date, the young company has raised almost $90 million from some of the country's biggest investors;"
"In that more general sense, though, RelSci did bootstrap. As Goldman explains, the company's proof of concept was itself. The very aim of its product-a kind of LinkedIn on steroids-was to help businesses add clients. And like any young business, RelSci, which was founded in 2010, needed to add clients. "We used the system ourselves," says Goldman, who will sign his 250th client this month, and currently adds about two a day. "We're a living example that this works.""
Bootstrapping refers to proceeding without outside funding, originally meaning pulling oneself up by one's bootstraps. Relationship Science raised nearly $90 million from major investors yet proved its concept by using its own product to win clients. The company was founded in 2010. Founder Neal Goldman has signed around 250 clients and currently adds about two clients daily. RelSci positions itself as a networking and business development database distinct from LinkedIn. RelSci's database contains roughly 2.5 million entries versus LinkedIn's 200 million. Corporate clients often pay a minimum of $3,000 annually for access, with larger organizations buying many seats.
Read at Fast Company
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