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With his credentials and track record, he would be able to easily raise 8 figures quickly, without much need to risk your own capital.
by hkmurakami 9y ago
With his credentials and track record, he would be able to easily raise 8 figures quickly, without much need to risk your own capital.
- jeeyoungk 9y agoOtto did not raise any rounds. Having external stakeholders would've made their shady deal even harder to pull.
- jgalt212 9y agoIndeed, it would not have passed even a cursory due diligence.
- hkmurakami 9y agoah in which case... he likely did put in personal capital until the uber deal went through (it closed very quickly after the company's founding, like 12~16 months iirc?)
- tyingq 9y agoI don't know that the Uber buyout of Otto recouped that loss for him. It may have been an all-stock deal, and he had to forfeit his $250M portion: https://www.bloomberg.com/news/articles/2017-05-31/fired-uber-executive-said-to-forfeit-250-million-stock-grant https://www.bloomberg.com/news/articles/2017-05-31/fired-ube...