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It sounds like he had 3000 actively paying business users at the start of this negotiation, with revenue matching up with a series A level co (so likely signifi
by nrmitchi 4y ago
It sounds like he had 3000 actively paying business users at the start of this negotiation, with revenue matching up with a series A level co (so likely significant, but definitely under $10M ARR. If they started with a benchmark valuation of ~$15M, cut that down a bit, and then negotiated up based on continued growth this could have easily clocked in at high 7-low-8 figures.
I definitely wouldn't count that as "not a lot of money".
Having meetings with Brockman and Altman afterwards also point to it not being an insignificant acquisition amount.