Setting up a company is no walk in the park: A lot has to be taken into consideration and a lot of money is required. But, when it comes to the latter — this may not always be the case.
Take social platform GirlCrew for example. In its first year the founders state that they used no more than $60.
How, you might ask? Simply, "We didn't have to pay for office space, as the work we did was mainly from the living room of my apartment," Pamela Newenham, founder and co-CEO at GirlCrew, told CNBC Make It via email.
Founded in 2014, GirlCrew's platform helps women find new friends in their local area, whether that's participating in group chats online or setting up events offline.
Starting off in the Irish capital of Dublin, the platform now has more than 100,000 members in over 45 cities, including New York, Melbourne and Toronto. When it comes to what the group spent the $60 on, Newenham told CNBC that for the most part, the money went towards content creation.