The general consensus from the VC community is that there is no point in a start up being in stealth mode. The argument runs along the lines that it’s all about the execution so who cares if everyone knows what you are doing. I don’t buy this at all. By stealth mode I don’t necessarily mean just posting up a holding page and being tight lipped about what you do I mean just not actively trying to create noise before you are ready.
In fact I’d argue that you are far better getting on with your business, developing your product, acquiring and servicing customers. Don’t worry about the Techcrunch pr or hauling your ass around, talking to every VC that will listen (because unless you have a product and some customers the VC is only doing market research and getting ideas for their portfolio companies anyway) Caterina Fake from Flickr points it out nicely here.
Finally whilst an idea is just an idea until it’s developed into something, given how little it costs and how quickly something can be launched there seems little sense in giving access to the crown jewels before you’ve had a chance to build the safe to keep them in.