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I'm kind of blown away that they needed $95m in VC to create a $18m/year company. They probably would have done better by investing in high-growth mutual funds.
by goodweeds 15y ago
I'm kind of blown away that they needed $95m in VC to create a $18m/year company. They probably would have done better by investing in high-growth mutual funds.
- meterplech 15y agoOr they pulled in 18 million over the past year but their monthly revenue is now higher, and thus on a growth trajectory to pull in much more than 18 million next year. This also doesn't include advertising revenue to their 20 million user base. And it's a startup... so you know, the whole idea is that it might make more in the future. I know it is a lot of money, but they are supporting 20 million users & 8 million active.
- dextorious 15y agoYeah, because every company blows up exponentially in profits, right? It took hundrends of millions of funds and way more years before Amazon even turned any profit. Twitter too (do they even make a profit yet?). And the same goes for every regular business all around you. Do you think many restaurants break even in a year, for example?