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So this is a little bit "in the weeds" but with the seed round closing back in July for $1.5 million why such a short turnaround for the series A? Is this norma
by BinaryIdiot 11y ago
So this is a little bit "in the weeds" but with the seed round closing back in July for $1.5 million why such a short turnaround for the series A? Is this normal? Considering it probably takes at least a month to close out a round does that mean GitLab went back out to fund raise only a month after their $1.5 million investment?
Not trying to be critical or anything I'm just really curious.
- sytse 11y agoKhosla invested in our seed round and we kept talking with them. They are a great investor so we are happy they wanted to do our A round. So we raised an A earlier than we expected beforehand. We still haven't touched the seed money, in our last month we were cash-flow positive. But I'm happy we did a priced round and can focus on growing knowing we have enough cash.
- BinaryIdiot 11y agoGood to hear. Thanks!
- mbesto 11y agoFrom a macro level: - Money is dirt cheap right now (and won't be for long) - Investors who see promise and progress in companies typically like to double-down early and often if they can Makes total sense.