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Wow, quite a lot of money to raise for a YC company, isn't it? Vinod Khosla is a million percent more knowledgeable than I, so obviously they've got it going
by zach 20y ago
Wow, quite a lot of money to raise for a YC company, isn't it? Vinod Khosla is a million percent more knowledgeable than I, so obviously they've got it going on at Xobni. But why a $4M first round?
- staunch 20y ago"But why a $4M first round?" The inside scoop is that Vinod sneezed when he was opening his wallet and that's the pocket money he had on him. Really though I think it's probably so they don't ever have to take another round before they're profitable or exit.
- zach 20y agoI love this explanation. So okay, I'll give the Xobnis a congratulatory finger-wag.
- Sam_Odio 20y agoThat doesn't make sense for the founders, though. It would be in their interest to take as little money as possible early on, so that they give up less of the company's equity. Then - later when the business model has proven itself - and the valuation is higher - take on additional capital. You'll be giving up much more equity if you take a million in funding in the first round, instead of the third.
- brezina 20y agoWe did it so that we can hire a dream team of hackers. All interested hackers please apply: jobs@xobni.com