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The article seems to contradict itself; Shark Tank gave them a $270K pre after they "walked away with $500K in investments" at the end of the Summer? Maybe the
by leelin 17y ago
The article seems to contradict itself; Shark Tank gave them a $270K pre after they "walked away with $500K in investments" at the end of the Summer? Maybe they meant all investor owned equity is now 25%?
Notehall.com, one of 10 ventures chosen to participate in
the three-month summer program, walked away with about
$500,000 in investments.
...
Through the show, which aired Notehall.com's episode last
week, Mr. Conway landed the company an additional $90,000
after agreeing to give up a 25% equity stake
- theklub 17y agoNo the Sharks usually only invest if they are getting a sizable percent of ownership so I think that's correct. They must have needed the money pretty badly.
- mediaman 17y agoI wonder why on earth someone would burn through $500k in less than a year to develop a class notes sharing site, given the developer abstractions available today. Maybe he tried to launch a blitzkrieg marketing plan in many different universities at once, with little testing or compartmentalizing? Maybe just too much staff?