Last year myself and two other partners got together to work on our startup. We got an offer from one of the investors for 40K seed money. We turned down the offer because one of the founder was expecting a baby 2 months later and one founder was in process of re-location.
Fast-forwarding to today, we kept on working on the idea and bootstrapped it. We all are making 100K plus salaries so did not feel the need to quit our jobs for 40K.
We are at the stage where we now think that it is better to spin off the startup as we can no longer contribute our time to it due to personal commitments.
What do you think something is worth which had 40K seed offer and has a working product?
Note: we have not launched the application yet to public. It was only shared with Friends and family and few investors and got good feedback.