I worked at a SaaS company which was just complete shit. They handled a lot of critical B2B data. They frequently went down, together with prod. They had an incompetent lead programmer who would disappear often and take a long time to fix things. They had no processes, they'd store source code in email.
But they have product market fit, in that they operate in a huge market with plenty of suckers. They were good at sales. They could only keep a handful of customers at any one time. Plenty of sales stuff were straight lies - they'd make up clients, used an intern for testimonials, etc.
They're bootstrapped and still around. A VC commented that they were resilient, cockroach like, all the sexy words you use during a recession.
But it's likely they just never grew into a unicorn level because they kept bleeding customers.
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I worked at a SaaS company which was just complete shit. They handled a lot of critical B2B data. They frequently went down, together with prod. They had an incompetent lead programmer who would disappear often and take a long time to fix things. They had no processes, they'd store source code in email.
But they have product market fit, in that they operate in a huge market with plenty of suckers. They were good at sales. They could only keep a handful of customers at any one time. Plenty of sales stuff were straight lies - they'd make up clients, used an intern for testimonials, etc.
They're bootstrapped and still around. A VC commented that they were resilient, cockroach like, all the sexy words you use during a recession.
But it's likely they just never grew into a unicorn level because they kept bleeding customers.