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He obviously has a vested interest in lauding his backers. If the European ecosystem is actually so great then why did it take the author three years to raise $
by thisisfmu 16y ago
He obviously has a vested interest in lauding his backers. If the European ecosystem is actually so great then why did it take the author three years to raise $1.3m?
- ig1 16y agoI believe GroupSpaces raised an angel round in 2008 and only started looking for the VC round in 2010.
- thisisfmu 16y agoseedcamp invests about $80k, which is nowhere near enough to fund a London-based startup with 3+ people for more than two years. although the official story may very well be that they "only started looking" in 2010 this does not match up with this simple fact very well. Occam's Razor therefore suggests to me that it actually took forever to raise a round (despite nominally ideal conditions, such as a well-connected founder with a CS degree from Oxford, trip to SV, liked by startup media, simple to understand product, etc).
- ig1 16y agoGroupSpaces wasn't funded by Seedcamp, are you thinking about another company ?