Bootstrapping into 2026: Keeping Swellnet Independent
I've never been a fan of anniversaries, but as Swellnet hits another milestone, it's time to reflect on our journey and the path ahead. With the new year approaching, we're gearing up for a major site and technology upgrade, a project that has been in the works for longer than anticipated. As a small, independent company, we've always bootstrapped our way through, and this is something I'm incredibly proud of.
In today's tech landscape, most companies are either owned by venture capital or private equity firms or publicly traded on the stock market. These entities often have access to substantial funding, enabling them to develop new products, expand into new markets, and pay the bills. But Swellnet takes a different approach.
Bootstrapping means we self-fund and gradually build our business to a point where it can sustain itself. It's a calculated risk, saving slowly and investing in initiatives that hopefully boost our revenue trajectory. This approach has its challenges, especially when it comes to hiring new staff, fixing equipment, or implementing website upgrades. We must ensure we have the funds to cover these expenses, even if it means taking a chance on something that might not work out as planned.
The question of outside investment has always been a delicate balance. While I've had numerous conversations with potential investors, the concern of losing control over Swellnet's direction looms large. The surfing industry, and tech in general, has seen its fair share of corporate mergers, acquisitions, and takeovers, often resulting in negative outcomes for the brands and their communities. I've witnessed how private equity can impact businesses, and it's a path I want to avoid.
Crowd-sourced funding (CSF) projects, often launched on platforms like Kickstarter, have also raised concerns. Some use CSF as a way to bypass the regulatory requirements of an IPO, leading to disillusioned investors. However, bootstrapping fosters resilience. If a business can't pay its way from the start, it raises questions about its necessity. This was a reality Swellnet faced eight years ago when subscriptions were low, and advertising revenue was declining.
At that time, Swellnet had only 998 paid subscribers, generating less than $80,000 annually. With a small team and expensive tech infrastructure, the need for a turnaround was urgent. I published an article about subscriptions, determined to prove Swellnet's value to the surfing community. Despite slow progress, we've made significant improvements over the years, upgrading our surfcam network, hiring new staff, and enhancing our website technology and forecasting tools.
As a result, Swellnet is now profitable, allowing us to reinvest in the business. Crucially, I've managed to maintain Swellnet's independence, avoiding any corporate ownership. This is a rare find in the surfing industry, where corporate ownership has often led to the demise of once-vibrant and forward-thinking brands.
Swellnet's Australian ownership and transparency set us apart. As a family-owned business, we actively engage with our community through article comments and forum threads. Our key staff, including myself, are always available to answer questions. This level of engagement is a testament to our commitment to the surfing community.
In 2026, we have exciting new products on the horizon and plan to expand our team. If you'd like to support Swellnet, the best way is to purchase a subscription, either for yourself or a friend. Gift subscriptions are available on our website.
Thank you for your continued support, and here's to another year of growth and independence.
Ben Matson
@thermalben
Founder, Swellnet.com
