Bootstrap vs VC: Whose Company Is This?

Two founders start similar B2B tools in the same year.

Founder A raises $4M across two rounds, hires twelve people, and grows fast. Six years in, the company sells for $18M. After investors take their share and the option pool pays out, Founder A — now owning about a third — walks away with roughly $6M, and only because the exit cleared the investors' preferences.

Founder B raises nothing, stays at four people, grows slower on customer revenue. Six years in, her company sells for $8M. She owns 90% of it. She walks away with about $7M.

The "smaller" outcome paid the founder more.