Bootstrapping ethics

Filed in archive Bootstrapper News on November 5, 2007

Entrepreneur Peter Thum developed Ethos Water from a bootstrapped business launched in 2002 to a $7.7 million business sold to Starbucks in 2005.

The company, created on the premise of donating a percentage off the sale of each bottle of its premium spring water to clean-water initiatives in third world countries, was funded through savings and capital from Thum and partner Jonathan Greenblatt.

First, however, it was turned down by no less than 150 investors who were convinced the company had no chance of success including one Venture Capitalist who encouraged the entrepreneurs to start a "real" company.

The business donates to organizations like Water 1st as and Mercy Corps with the goal of contributing at least $10 million a year to safe-water projects by 2010.

Water 1st, one of the organizations aided by ethos water helps provide resources for clean water wells in places like this village in India.

For more on Thum's story of bootstrapping to change the world read this article from CNN Money.com.