Bootstrapped to Over $12 Million and Exit

I publish this series to discuss the nuances of bootstrapped entrepreneurship. Please subscribe to my Best of Bootstrapping series to never miss an article and?learn what to expect from 1Mby1M .

Aaron Fulkerson Founded MindTouch, a company that offers a cloud-based self-service help center and knowledge-as-a-service platform. He grew the business to eight figures as a bootstrapped company with no venture, no debt. The company was sold to Nice Systems in April 2021. Here is our conversation from 2013.

Sramana: Aaron, tell us where you are from and a bit about your background. What are the roots of your entrepreneurial story?

Aaron Fulkerson: I grew up in a small town south of San Jose, California. Back then it was very rural and was still a farming community. At the same time, Silicon Valley was starting to blossom. In the 1980s, as a kid, I would dial into bulletin board services. I also wrote quite a bit of code. I did all of this from the farm I was growing up on.

After high school I went backpacking for around five years before I went to college. I met my wife in northern Minnesota. We went and backpacked through Europe together for several months. She was finishing her undergraduate degree, so when we got back from Europe I decided to enroll in college as well. She thought that I would pursue some sort of social science degree, but I had enjoyed writing code as I grew up so I studied applied mathematics and computer science. I went to Chapel Hill because of the computer science program there.

After graduation I was recruited into Microsoft, where I worked on high performance computing and distributed systems. That is where I met the co-founder of MindTouch, and we decided to start MindTouch as an open source project so we could have the chance to work together.

Sramana: What year did you start MindTouch?

Aaron Fulkerson: We started writing code in late 2005. We shipped the project in late 2006.

Sramana: Were you still at Microsoft during this time?

Aaron Fulkerson: No, this is what we started doing right out of Microsoft. We left Microsoft before starting to work on MindTouch. At Microsoft we had been doing high performance and distributed systems computing performance. I wanted something that would make it easier to collaborate on writing papers. I had some specific ideas on how to approach solving the problem of collaboration around project or service knowledge. My ideas were actually pretty stupid; fortunately, my co-founder Steve had a better idea that was web-based.

We shipping the first iteration of the open source project in late 2006, and by the end of 2007 I figured I needed to go get a job. I figured I would get a job at Google or somewhere else, and Steve told me that he put our packages and RPMs on SourceForge. A week later he told me we were doing 2,000 downloads a day. We shot to the top five open source projects, and that is when I realized we needed to start a business around this.

Our conversation continues here .

Looking For Some Hands-On Advice?

For entrepreneurs who want to discuss their specific businesses with me, I’m very happy to assess your situation during my free online?1Mby1M Roundtables , held almost every week. You can also check out our free?Bootstrapping Course , our?Udemy courses ,?YouTube channel ,?podcast interviews ?with VCs and Founders, and, to?follow my writings, click "Follow" from?here .