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With open source software (LAMP stack) and cloud computing infrastructure it just wasn’t that expensive to get your company going and founders just wanted to raise less money. One of the hotter companies lately in the mobile social networking is FourSquare, which raised $1.35 What exactly is seed funding anymore?
Thomas and his partner lived off of credit cards, and used crappy data centers and open source software (LAMP). Don’t obsess over your competition because most times competition will implode on their own, pivot in a different direction, or you’ll learn to coexist. Patience is also important for market and customers.
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