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Congrats! Just for my education: say that TechCrunch is correct and they did sell for $15 million and that YC took 6% equity in the company. Does that mean tha
by matt1 18y ago
Congrats!
Just for my education: say that TechCrunch is correct and they did sell for $15 million and that YC took 6% equity in the company. Does that mean that that YC gets a $900,000 payday too? Or is it more complicated than that?
- jsmcgd 18y agoThis one liquidity event must go a long way to cover all the investments of ycombinator.
- mpc 18y agoThey've had quite a few now. I could imagine YC becoming profitable soon if they are not already.
- helveticaman 18y agoUnless Omnisio got other sources of funding. That also takes taxes out of the picture.
- markbao 18y agoOmnisio only had funding from YC, no other funding rounds.
- aston 18y agoIf Techcrunch is right, Chris Sacca was part of a seed round. http://www.crunchbase.com/company/omnisio http://www.crunchbase.com/company/omnisio
- markbao 18y agoYou're right. Also used CrunchBase as a source, didn't see that it was a dual party round. That's interesting though. Sacca is an Omnisio advisor, and also was the Director of Special Initiatives at Google.
- joao 18y agoA good example to remember that having on on your side people with the right connections is as valuable as a good product.
- matt1 18y agoDid they have multiple rounds of funding from YC or did they make it this far on the initial money? Seems hard to believe that could tackle the scaling issues with $10K or $15K
- staunch 18y agohttp://trends.google.com/websites?q=omnisio.com http://trends.google.com/websites?q=omnisio.com Doubt they had any scaling issues with virtually no traffic. I assume they did an angel round and took tens/hundreds of thousands of dollars. Probably just so that they could afford to pay for salaries and whatever minimal necessities they had.
- jamiequint 18y agoyeah, the only thing bad about quick sales is short term capital gains :)