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I don't know the details of the $35M raising, but it's quite unclear on whether the attempt to estimate their cash on hand was remotely accurate. A $35M round m
by onan_barbarian 15y ago
I don't know the details of the $35M raising, but it's quite unclear on whether the attempt to estimate their cash on hand was remotely accurate. A $35M round might be tranched to hell and back and a company that isn't hitting promised targets may not get all its tranches (experience speaking :-) ).
- staringispolite 15y agoThis is a very good point, and one I didn't address in the post. In fact I may go back and add this. From my understanding in talking with some of the ex-employees: it doesn't seem to have been the issue in this case. But it's a huge point to consider if you're looking for take-aways for your own startup.