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FYI, for Brex, the definition of "a startup" is a company with $500K cash in its checking account: https://twitter.com/dvassallo/status/1179520756905955328 http
by DVassallo 7y ago
FYI, for Brex, the definition of "a startup" is a company with $500K cash in its checking account: https://twitter.com/dvassallo/status/1179520756905955328 https://twitter.com/dvassallo/status/1179520756905955328
- PopeDotNinja 7y agoBasically it means you have runway, whether you're funded or bootstrapping w/ lots o' savings.
- DVassallo 7y agoI have more than that as runway. I just don't want it to be in my LLC's checking account. Which is fine. Brex has no obligation to underwrite me. But I got an Amex and Chase business credit card in 15 minutes with cash back bonuses that match Brex's. Yes, I'm personally liable to the balance, but I'm not accumulating any anyway. I auto-pay the balance every month.
- maximente 7y agois that right? because FTA: > Now, any startup, regardless of funding, can create a Brex account to store cash, explains Dubugras, and all companies using Brex Cash will be immediately issued a Brex corporate credit card so is the article correct, or is the email correct? because to me "regardless of funding" reads "we don't care how much you have on hand" but that does not seem consistent with the gmail exchange.
- DVassallo 7y agoInteresting. My email was from 2.5 months ago, so maybe this changed recently.