4 ms·
I imagine there must be a bit more to the story. It's not common for investors to write off $800k out of good will (doesn't seem like something in the best int
by cj 6y ago
I imagine there must be a bit more to the story.
It's not common for investors to write off $800k out of good will (doesn't seem like something in the best interest of their LPs).
Edit:
> It’s a really exciting day here at Baremetrics! I’m stoked to announce that General Catalyst has invested $500,000 in Baremetrics, as part of a new fund they’ve created for businesses on Stripe.
Turns out there is more to the story.
Baremetrics got their cash from a fund specifically intended to promote companies integrating with Stripe. In other words, the goal of the fund was to promote Stripe moreso than to generate returns for LPs
- alex_c 6y agoAhh good find, and according to CrunchBase that Stripe fund was $10M total. That makes a bit more sense now.
- csomar 6y agoSo they invest in a company and then they invest in a bunch of companies to raise the turn-over of the first company. Seems legit.
- pkrotich 6y agoInteresting - I truly expected Stripe to buy Baremetrics.