#important-announcements

Typesense Company's Decision Not to Raise Capital

TLDR Jason shares the decision of Typesense not to raise capital and remain customer-revenue funded, sparking supportive discussions and suggestions for alternative funding methods like venture debt from Alex. Other users also express their admiration and support.

19mo

Join the chat

Feb 03, 2022 (19 months ago)

Photo of md5-8813087cccc512313602b6d9f9ece19f

Jason

06:42 PM

@channel Over the last 18 months, we’ve had conversations with over two dozen VC firms who cold-reached out to us. We’ve also had conversations with about a dozen customers and friends who expressed interest in investing in Typesense.

To everyone who has reached out to us about investing in Typesense, I really appreciate your support 🙏

While some of these conversations almost convinced us that we should be raising funds, after a lot of soul-searching, our current state of mind is that we want to build a business around Typesense that’s primarily funded by customer revenue, rather than external capital.

We’ve been bootstrapping Typesense over the last several years and I’m thrilled and grateful to say that we are currently fully funded by revenue from paying customers 🎉

So leaving the monetary aspect aside, here's why we don't want to raise capital:

https://typesense.org/blog/why-we-are-not-raising-funds/

Feb 04, 2022 (19 months ago)

Photo of md5-bf7414b890b5de8dd9d0bd5bef438a50

Alex

01:15 AM

I totally agree with the points made in your article. Have you thought about growth equity firms or venture debt? Investors who concentrate on deep tech would also align really well with your product

Jason

01:18 AM

I've read anecdotal stories that growth equity firms have even higher expectations of their returns on investment and expect well defined progress on metrics, though they do tend to write much larger checks.

01:19

Jason

01:19 AM

I've only heard of the term venture debt at a high level, don't know too much about the incentives / mechanics for investors

Alex

01:44 AM

venture debt would probably be a great fit for TS — worth looking into!

01:45

Alex

01:45 AM

With GW, yeah, but they also give a way longer timeframe, and if it doesnt work out it doesnt work it as they inevitably will have a minority stake

Photo of md5-6384d24e1825271b2c37ad8afa24a899

Robert

03:44 AM

Jason, as a solo developer developing a new project that uses Typesense, I just want to say THANK YOU for creating and continuing to update Typesense in a free, developer friendly, and open source way. I read your blog post and am thrilled to hear that Typesense will remain free, at the moment, from the curse of venture capital. Thank you.

Jason

04:05 AM

Thank you for your support Robert! 🙏

Photo of md5-16d994e060b67ac78785fe582156de68

Fulvio

08:40 AM

I take my hat to you guys, Congrats and Good Job.

Feb 09, 2022 (19 months ago)

Photo of md5-98c72c3023867be0346b48ae4cb22001

A

12:31 AM

Was / still going through the VC discussions myself, and this was refreshing to see. I’m a happy TS customer and hope to scale our usage as well.

Typesense

Lightning-fast, open source search engine for everyone | Knowledge Base powered by Struct.AI

Indexed 2764 threads (79% resolved)

Join Our Community Manage subscription

Similar Threads

Issue with Search Duration on Typesense Database

Robert reported an issue about query time delay when adding a `filter_by` constraint in a large Typesense database. Kishore Nallan explained that this happens due to the order of operation and also promised to look into this issue further. Robert withdrew his interest in sponsoring the improvement due to moving from the project.

7mo

Announcement: General Availability of Typesense v0.25.0

Jason announces release of Typesense v0.25.0, listing new features. Users express excitement and ask pertinent questions. Gorkem, Manuel, and Daniel commend the team for the new functionalities. Manish and Tugay share their positive experiences with Typesense. Jason and Kishore Nallan answer questions and thank users for their feedback.

169

1mo

Building Algolia Recommend-like Features in Typesense

David wants to build Algolia Recommend-like features in Typesense. Kishore Nallan suggests content-based recommendations and user/item recommendations using Tensorflow Recommenders and Two Tower Model.

4mo

Storing Documents with Multi-Category Facets

Ricardo wanted to know how to store a document with multiple categories as facets. Jason directed to add each category in a `string[]`, and set `category` as `facet: true`. Ricardo appreciated Jason's detailed comparisons of Typesense and Algolia and suggested creating a case study.

29mo

Contributing to project using JS, TS, Go and PHP

Matthew volunteered to contribute to the project using JavaScript, Typescript, Go, and PHP. Jason assigned two tasks, including Laravel integration and nest.js library. hi019 encouraged Matthew to try out the Laravel integration.

25mo