Technology is bringing abundance to the world. But, only a handful of people start the iconic companies with the biggest impact. Floodgate backs these Prime Movers before the rest of the world believes.
Taking risk with these legendary founders at the very beginning of their journeys is core to our DNA and how we add unique value as an investment partner.
So, while Weebly was happy to take Floodgate’s seed investment, they first had to fly back to Penn State to collect their Undergraduate Diplomas. And while many companies regard funding as a milestone, the “Weeblies” became profitable with less than $700,000. A lot has happened since then. Today, over 30 million people around the world have started a site on Weebly, with over 250 million unique visitors a month. More importantly, Weebly has helped millions of people — entrepreneurs, business owners, teachers, artists– folks from all walks of life — start something that is uniquely their own.
In addition to the their business success, Weebly is a case study in the value of capital efficiency and the power that this gives a founding team in controlling its destiny.