Story

Funding Cushion

May 24, 2016

A few years ago, a friend of mine at FiftyThree reached out to see if I was available for a freelance gig. A few weeks later, we launched my first scroll-based animation website, for FiftyThree’s Pencil. Shortly after, my friend reached out again to see if I’d be open to an intro. FiftyThree’s earliest investor, Shana Fisher of Third Kind Venture Capital, saw the website and wanted to meet.

I’ve always had a pessimistic view of VCs and apps that take investment. In my eyes, taking investment meant looking for an early exit rather than building a sustainable product. (I’ve read enough Our Incredible Journey posts to become cynical.) My dream has always been to build an app that could fully support me—I would work on it for the rest of my career and have complete control of it. At the time, I didn’t have an app—I was only a freelancer—so, interest from an investor made me curious.

I took the meeting.

We talked about my work, my background, and my aspirations. We also talked about Shana’s role as an investor, her companies, and her views. Shana didn’t fit the negative image I had of VCs. Her transparency to my questions was refreshing, and I appreciated her straightforward way of speaking. Even though I didn’t have an app, or even an idea, Shana was interested in investing in me. I appreciated the gesture, but I wasn’t looking to take investment anytime soon.

Over the next two years, Shana and I continued to meet for coffee every few months. During this time, I burned out from freelancing and came up with the idea for Cushion. I took a few months off to bootstrap Cushion, re-investing the income from my freelance work. And, I officially launched Cushion the following year.

Cushion started growing, and as it grew, my vision for its future became clearer and more focused. I knew exactly where I wanted to take Cushion, but I also knew that continuing to work alone would only hold me back. I’ve always been reluctant to let others work on Cushion because it’s precious to me, and I thought I worked better alone. After years of working alone, however, my views changed. As Cushion grew, I grew, too. The timing was right to consider hiring.

Financially, I was in no position to hire anyone full-time, so I decided to hire several freelancer friends of mine instead—still using my own income from freelancing. After only a month, we were able to launch three major features and publish an entirely new interview series. I couldn’t believe how much we were able to accomplish at such a high quality and in such a short period of time. Hiring help was the best thing to ever happen to Cushion, but there was a problem—I knew I couldn’t afford to pay everyone for long, let alone pay myself.

I considered freelancing more, but then I’d be working on Cushion less. Taking investment was a clear solution, but I shot it down each time. I assumed that taking investment meant losing control of Cushion. I imagined being forced to sell by a board of shadowy figures. I thought everyone would be so disappointed in me. I was scarred from witnessing so many startups force an exit as a last-ditch effort or run out of money and spiral out of control. I never wanted to see that happen to Cushion.

I reached out to a friend of mine who has been through the startup world. I’ve always looked up to him as one of the smartest and most genuine people I know. Instead of simply giving me advice, he pulled out a notepad and spent over an hour in a coffee shop running through every angle of my situation. He eased my extreme views of taking investment and sketched out a path I could take based on what I wanted to do with Cushion. I could partner with Shana to fund Cushion, but maintain my goal of building Cushion into a real business, instead of a rocketship startup.

After speaking with my friend, I followed up with Shana. I wanted a better understanding of what taking investment would look like, instead of simply shutting down the idea completely. I met with Shana and her partner, Alex Binkley, at their office in Manhattan. I came prepared with a list of things that were important to me, if I were to take investment.

“Done”, Shana said.

We ended the meeting with every question answered and every doubt diminished—I felt a great sense of reassurance. After the coffee with my friend, I was leaning toward investment, but Shana and Alex’s openness and accommodation put me over the top.

When I started Cushion, if someone were to tell me I would one day take investment, I wouldn’t have believed them. I also wouldn’t have believed that I would hire a team. Over the past two years, however, Cushion has grown from an idea into something real, and I’ve grown with it. Considering where Cushion is now and where I want it to go, I know this is the right decision, and most importantly, with the right people.

So, what’s next? The most exciting news is that Larry Fox, responsible for Cushion’s recent smart features, is joining Cushion full-time. We’ll continue to work out of our co-working space in Brooklyn and continue hiring freelancers to collaborate with. And, for the first time in almost five years, I’ll finally have a consistent income.

I can’t wait for Cushion’s future. Stay tuned!

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Archive

  1. Restructuring an Evolving App: Part 1
    Design
  2. My Typical Week as a Startup Founder
    Story
  3. Building Components in a Sandbox
    Dev
  4. Reactive Time with Vue.js
    Dev
  5. Visualizing Daylight Saving Time
    Dev
  6. Recording Screencast GIFs
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  7. Writing a Job Listing
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  8. Using Feature Flags to Run Betas
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  9. Our First Company Lunch
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  10. How to embed Vue.js & Vuex inside an AngularJS app... wait what?
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  11. Funding Cushion
    Story
  12. Hiring a Team of Freelancers
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  13. Taking a Real Break From Work
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  14. Slack as a Notification Center
    Dev
  15. Document Your Features
    Story
  16. 300
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  17. Vacations
    Design
  18. Offering Discounts
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  19. Waves of Traffic
    Story
  20. Less Blogging, More Journaling
    Story
  21. Retention Through Useful Features
    Design
  22. The Onboarding Checklist
    Design
  23. Spreading the Word
    Story
  24. From Beta to Launch - The Subdomain
    Dev
  25. From Beta to Launch - Sign up
    Design
  26. From Beta to Launch - Messaging
    Design
  27. Launch
    Story
  28. Authenticating with 3rd Party Services
    Dev
  29. Intro to Integrations
    Design
  30. Inspiration vs Imitation
    Story
  31. The Emotional Rollercoaster
    Story
  32. Designing Project Blocks
    Design
  33. Everything in Increments
    Story
  34. Deleting Your Account
    Design
  35. Designing the Subscription Page
    Design
  36. Rewriting the Timeline
    Dev
  37. Restructuring the Individual Project Page
    Design
  38. Project Blocks
    Story
  39. Redesigning the Homepage
    Design
  40. Multiple Timelines
    Design
  41. Archiving and Estimate Differences
    Design
  42. Multiple Financial Goals
    Design
  43. Zooming in on the Timeline
    Design
  44. Currency
    Dev
  45. Preferences, Accounts, and a Typeface Change
    Design
  46. Sending Out the First Email
    Story
  47. Currency Inputs, Notifications, and Invoice Nets
    Design
  48. Dots and Lines
    Design
  49. Calculating in the Database and Revealing Tendencies
    Dev
  50. Improved Form UX
    Design
  51. Cushion is Online
    Story
  52. Schedule Timeline Patterns
    Design
  53. A Slimmer Schedule Timeline
    Design
  54. The Schedule Timeline
    Design
  55. Plugging in Real Data for the First Time
    Design
  56. Transitions and Project Lists
    Design
  57. Death to Modals
    Design
  58. The Individual Project Page
    Design
  59. Estimated Incomes and Talks with Other Freelancers
    Story
  60. Statuses to Lists and the Paid Beta
    Story
  61. The Timeline
    Story
  62. Invoice Terminology
    Dev
  63. Modal Forms
    Dev
  64. Wiring the Backend to the Frontend
    Dev
  65. Balancing Design and Dev
    Story
  66. Timecop, Monocle, and Vagrant
    Dev
  67. Going with Ruby and Sinatra
    Dev
  68. Ditching local-first and trying out Node.js
    Dev
  69. Switching to AngularJS
    Dev
  70. Building the Table with Vue.js
    Dev
  71. Clients, Projects, and Invoices
    Dev
  72. Introduction
    Story

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