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What's going on with raising $11M if it's pretty clear you don't have product market fit?

• deleted 9y ago
  [deleted]
• EpicEng 9y ago
  It's people who don't know what they're doing playing with Monopoly money. I mean really; $11M+ for that site, which existed all of 7 months?! The start up scene boggles my mind.
  • austenallred 9y ago
    They didn't spend all of the $11m. Only a tiny fraction of it. And they worked on the site for two years.
    • EpicEng 9y ago
      Then why did they raise so much? How do you know how much the spent? And two years to build that site? I'm not convinced any of this was well thought out.
      • austenallred 9y ago
        > Then why did they raise so much? To be prepared if there was success? I don't know > How do you know how much they spent? Because the CEO talked about it in another comment > And two years to build that site? Yup. A lot of iterating and trying to find the right fit. Why is that so hard to believe? > I'm not convinced any of this was well thought out That's the thing - you have almost zero information about this, so declaring all of these things to be obviously-avoidable mistakes is just silly. If you think you would do a better job you're welcome to try, but learning about a company for <5 minutes I don't think there's any possible way for you to make that call.