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Strategies & Market Trends : Gorilla and King Portfolio Candidates
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To: Mike Buckley who wrote (40564)3/19/2001 1:35:20 AM
From: EnricoPalazzo  Read Replies (1) of 54805
 
Consistent with that thought, Siebel Systems never used a penny of venture capitalists' funds.

The one thing I'd add is that taking VC's funds isn't necessarily a bad idea. Even if you can afford to self-finance (as Siebel probably could), the connections that VC backing affords you can be valuable (I hear... although as a master-salesman, he likely had plenty of connections). Although the rigors imposed by self-financing can also be pretty valuable.

Siebel also mentioned that they're not at all afraid to turn away customers to ensure managable growth. Good news for investors if he's actually doing this. He didn't come out and say that he is, though. He did mention, however, that he manages for the benefit of customers and employees, not investors--which strikes me as the appropriate attitude for most companies.
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