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Something doesn't make sense here. If they're profitable and making millions, why are they raising more bridge funding at the last round's valuation and taking
by fearless 14y ago
Something doesn't make sense here. If they're profitable and making millions, why are they raising more bridge funding at the last round's valuation and taking on more dilution?
- AznHisoka 14y agoBecause they're not profitable and not making millions. 1) 19 reviews in the App Store. 2) It's free Money doesn't grow on trees unfortunately.
- joshbuckley 14y ago1) We have 9,516 Ratings in the US, 19 for a small bug fix we submitted yesterday. (http://itunes.apple.com/us/app/minomonsters/id477750637?mt=8 http://itunes.apple.com/us/app/minomonsters/id477750637?mt=8) 2) We're a free-to-play iOS game, our revenue is through in-app purchases.
- joshbuckley 14y agoHey, Josh (MinoMonsters CEO) here. Whilst I can't talk on the terms of this financing, we actually raised this round prior to our more successful launch. The money's now being used to accelerate our growth.
- juniorer 14y agoBecause it looks like they have ~10 people and according to the top grossing charts on iOS they make a few hundred dollars a day. Gotta keep it going until better metrics and results, I presume.