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That's exactly what I was thinking. "With the $10 million, Richard rents space in SoMa on a seven-year lease, hires lots more people, and within a few months h
by krychu 11y ago
That's exactly what I was thinking.
"With the $10 million, Richard rents space in SoMa on a seven-year lease, hires lots more people, and within a few months he is able to roll out the minimally viable product to test the market."
There was also $1 million of prior angel investment. So total of $11 million raised before having an MVP to test the market. Is this really representative scenario?
- adventured 11y agoThere are cases of it, even though it's rare. Color Labs raised a $13 million series A, at a time in which it really did not have a product.