Bootstrapping vs raising money for a developer tool?

Question

My habit tracker has 600 users and 40 paying ($5/month). An angel investor offered a small cheque. Should I take it or keep bootstrapping?

Ben Carter · Accepted Answer

Ask what the money would let you do that revenue can't. If it's "quit my job and ship faster" and you believe the market is big, take it. If the market is small, $200/month MRR growing steadily is a great lifestyle business and raising would push you towards growth you may not want.

Elena Petrova · Answer

Also talk to your 40 paying users first. Their reasons for paying tell you how big this can get.

Bootstrapping vs raising money for a developer tool?

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