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Normally I would say, "No, that's really shady." In this case, it seems like the initial raise was almost a marketing ploy. "Look at us! We raised $50M from the
by regulation_d 9y ago
Normally I would say, "No, that's really shady." In this case, it seems like the initial raise was almost a marketing ploy. "Look at us! We raised $50M from these big time VC firms! We must be awesome!"
In my mind, it's not especially different from an IPO where banks put their names on the line to build the book and then get a percentage of the offering for effectively being the marketer.