4 ms·

You'd burn through $5M scarily fast with a staff of 28.

• deleted 14y ago
  [deleted]
• lisper 14y ago
  They raised $4.7M last August: http://pandodaily.com/2012/08/14/a-4-7-million-injection-in-green-in-las-vegas/ http://pandodaily.com/2012/08/14/a-4-7-million-injection-in-... They would have had to pay their 28 employees an average of about $300k a year to burn through all that by now.
  • gojomo 14y ago
    But they're reported to have ~$1 million in debt right now (plus perhaps that much or more cash still in the bank). And it's possible they had another $1 million or more in debt around the time of the financing, in vendor AP or bridge loans, which the financing paid-down. And there are other expenses beyond employee overhead in growing an ecommerce brand. They were apparently burning cash too fast but a simple ($4.7M / 28 people / 0.5 year) isn't going to give a fair estimate ("paying $300K/year") of what they were burning it on.
    • lisper 14y ago
      Sure. My point was just that the head count alone probably can't account for the apparent burn rate. There must have been something else going on.
• rdl 14y ago
  Assuming you have zero revenue. If you have zero revenue in a retail business, wtf.