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> As CEO, Altman raised more than $30 million in venture capital for the company; however, Loopt failed to gain traction with enough users. It is easy to sell
by csomar 3y ago
> As CEO, Altman raised more than $30 million in venture capital for the company; however, Loopt failed to gain traction with enough users.
It is easy to sell a company for $43 if you raised at least $43. Granted, we don't know the total amount raised but it certainly it's not the big success you are describing. That and I already mentioned that he is good in corporate sales.
- paulddraper 3y ago> he is good in corporate sales Which is a big part of being a great CEO
- plingamp 3y agoAccording to Crunchbase, Loopt raised $39.1M.
- grumple 3y agoHow many years did it take to go from 39 million to 43 million in value? Would've been better off in bonds, perhaps. This isn't a success story, it's a redistribution of wealth from investors to the founders.
- hamburglar 3y agoAh, the much-sought-after 1.1X return that VCs really salivate over.
- gardenhedge 3y ago> It is easy to sell a company for $43 if you raised at least $43 I'm curious - how is this easy?