Building a company worth billions of dollars without any funding seems like a dream today, but it surely is not.
Basecamp is a company worth more than $100 Billion and I am sure a lot of you reading this might be learning about the company for the first time.
But why is it so?
It is because the company has raised almost no funding and we live in a world where valuations are celebrated more than profitability. Those who raise funding are the ones who get the hype as well as media coverage.
So here I bring you 3 main reasons how Basecamp has achieved such heights
Chasing profitability over growth: The founders knew from the start that unless and until they bring positive cashflows, the numbers of YoY growth and valuation are useless and that is why their primary focus was to always go for profitability.
Superb company culture: Basecamp is known to treat their employees as their first customers, a meaningful culture where the employees love to work will eventually lead to a more efficient and result-oriented workplace.
Hiring Smartly: The process of hiring at Basecamp is very unconventional, firstly they hire for pain, not for pleasure, and when they hire, they do a test drive if the selected individual can work in the office environment as they require them to be which gives the manager a decent idea if the individual is a good fit or not.
Which company according to you has a great company culture, let me know in the comments
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