The first successful English colony was Jamestown, established May 14, 1607 near Chesapeake Bay. The business venture was financed and coordinated by the London Virginia Company, a joint stock company looking for gold. Its first years were extremely difficult, with very high death rates from disease and starvation, wars with local Indians, and little gold. The colony survived and flourished by turning to tobacco as a cash crop. By the late 17th century, Virginia's export economy was largely based on tobacco, and new, richer settlers came in to take up large portions of land, build large plantations and import indentured servants and slaves. In 1676, Bacon's Rebellion occurred, but was suppressed by royal officials. After Bacon's Rebellion, African slaves rapidly replaced indentured servants as Virginia's main labor force.