They raise about $820 million and just spent virtually all of it, outside of operating expenses on marketing. For almost a year, they were advertising everywher

They raise about $820 million and just spent virtually all of it, outside of operating expenses on marketing. For almost a year, they were advertising everywhere before they had even launched. If i am not mistaken, i think they were boasting of the highest number of pre-launch signups for any company. So that already gave them a huge valuation and potential traction. They eventually launched, with a mixed reception, but they had enough numbers to keep them relevant.