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Boomeringo turns 2

Posted on 01 Jul 2016 by Shammika Munugoda

Boomeringo turns 2

Exactly 2 years ago Boomeringo was released as a public beta version. From day one, I knew it was going to be an uphill battle for us to get traction, as at that time there were 3 well-established, budgeting apps that had hundreds of thousands of users and millions of dollars in funding.

Till to this date, Boomeringo is bootstrapped. Our vision was not to be just another budgeting app but to provide something different that the industry was lacking. What kept us going was the story of the Chinese bamboo tree.

Just like any other plant, the growth of the Chinese bamboo tree requires nurturing, lots of it, more so than any other plant you know. In its first year, you will see no visible signs of growth. In the second year, no growth above the soil. The third, and the fourth, still nothing. Your patience will be tested and you begin to wonder (and perhaps doubt) if your efforts will ever be rewarded.

And finally in the fifth year, it grows up to 80 feet in just six weeks! But the real question is, did it take six weeks or five years to grow? Of course, it was the result of all those hard work put into it over a period of five years.

Treat your startup like the Chinese bamboo tree, keep hustling, keep nurturing it. It will grow! Here's to all our users who helped us over the last 2 years. There is much work to be done, and we are only getting started.

Shammika Munugoda

Shammika Munugoda

Founder and CEO

Software engineer Shammika Munugoda is the founder and CEO of Boomeringo.  In 2005 Shammika arrived in Melbourne as an international student from Sri Lanka. Being an international student meant Shammika was only allowed to work a maximum of 20 hours per week. His years as a financially strapped student were an influencing force in the development of Boomeringo. Shammika’s vision is to make financial management simple, easy and accessible to everyone in Australia.