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The rumor is that they were raising another round at a big valuation which might explain this. They might have been play off Yahoo and the VCs looking to lead t
by sriramk 14y ago
The rumor is that they were raising another round at a big valuation which might explain this. They might have been play off Yahoo and the VCs looking to lead the round off each other. Still, a really high number for an app that doesn't seem to have much traction.
- mchusma 14y agoSo my best guesses are: 1) $30M is basically a BS, "maybe they can get it in some crazy situation number" 2) $30M number is not real at all 3) They had some technology that was patented, hard to build, and was perceived to be super valuable to Yahoo but not obvious from the app itself 4) Something about having this "wiz kid" was really important to Yahoo's image And it was definitely not: -the product (being shut down) -much of the team (only 3 are going with) The lessons from (1) and (2) would be don't believe everything you hear. The lessons from (3) and (4) are that having great corp dev resources (VCs, advisors, etc) are worth a whole lot.