Amazon founder and chief executive officer Jeff Bezos has invested in 37 Signals, a Chicago-based software-as-a-service company. The investment comes from Bezos Expeditions, a personal investment company of Jeff Bezos. The company has steadfastly refused venture capital investments, but I guess changes are in order.
Since we launched Basecamp we’ve been contacted by nearly 30 different VC firms. We’ve never been interested in the typical traditional VC deal. With a few exceptions, all the VCs could offer us was cash and connections. We’re fine on both of those fronts. We don’ t need their money to run the business and our little black book is full. We’re looking for something else. What we’ve been looking for is the wisdom of a very special entrepreneur who’s been through what we’re going through.
37Signals makes products such as the Ta-Da List, Basecamp, and BackPack.