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What did they even raise the $50M for? They have 13 employees and run a couple hundred AWS instances from all accounts... They had previously raised $7M a lit

What did they even raise the $50M for? They have 13 employees and run a couple hundred AWS instances from all accounts... They had previously raised $7M a little over a year ago. Surely much of that was still around. Was this primarily to raise their valuation? Is that how it's done? Genuinely curious, I don't know how these things work.

bigiain 15y ago
Cynical-me says "To provide 100% returns worth $50mil over a weekend for some friends of theirs"… Surely there's absolutely no doubt that whoever signed this round last Thursday knew just how close to finalizing a $1bil acquisition they were?