3 ms·
Snapchat originally set out to raise $40 million, but demand for the round skyrocketed, and it decided to shoot for an ambitious $900 million instead. When that
by mehwoot 12y ago
Snapchat originally set out to raise $40 million, but demand for the round skyrocketed, and it decided to shoot for an ambitious $900 million instead. When that didn’t work out, it dialled it back to $500 million.
Mind boggling.
- schuman 12y agoyeah, we're looking to buy 400 man-years of labor. or 9,000. but we'll settle for 5,000.
- sadgit 12y agoOn what does a software company spend half a billion dollars?
- mc808 12y agoOther software companies. Lawyers.
- SapphireSun 12y agoMarketing, enterprise sales? Also, snapcash.
- krschultz 12y agoMarketing.
- robbiemitchell 12y agoYou don't spend heavy marketing dollars on a free app. (Not in the way most people would define "marketing", anyway.)
- rev_bird 12y agoThis is what I was thinking. And they wanted even more than that! I can't fathom what $900 million would buy, but it seems like at a certain point, it'd be in their interests to stop giving away equity, no? $900 million is a big chunk of a company pretty much regardless of valuation.
- jes5199 12y agosplit it evenly between the employees and all retire
- ulfw 12y agoSo really, they have no clue how much they need/or what to do with the money then. The difference between 40 and 900 Million is quite staggering.