... breakthrough technologies or new business models that can grow into large companies. Examples of global giants such as Google, Amazon or Airbnb once started as small startups, and early venture investors in them received huge profits from the growth of ... ... growing customer base and is forming a sustainable income model. Cash flows may still be negative (the company spends more than it earns), but there is an understanding of how to scale. Venture funds with larger investments come to rounds A and B. The goal ...