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Fair enough. If you raise 100M, IPO for 10B, and then drop 90% to 1B, you still accomplished a great thing, I agree. You turned 100M investment into 1B. But
by andrewmutz 4y ago
Fair enough. If you raise 100M, IPO for 10B, and then drop 90% to 1B, you still accomplished a great thing, I agree. You turned 100M investment into 1B.
But Bird scooter raised more than 900M, and today is worth 75M. Yes, it's an IPO and that's great, but it destroyed a lot of wealth. Not clear who ended up holding the bag (VCs or the public investors), but either way it's a bad outcome
- HWR_14 4y agoIn this example, fair enough, Bird failed. It seems obvious from the 75 million valuation (and the being banned in city after city). And that was assuming a far smaller total raise than 900MM. They raised that much money? Their capital costs were really high, and it's possible they actually needed it. My point was mostly about the details, not claiming that Bird was a success.