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A comment on Substack is laying off 14% of its staff. Parent comment

Re:Substack is laying off 14% of its staff by nemo44x on Wednesday June 29, 2022 @04:17PM (#31925203)
Not rare at all. A friend recently worked at a company that did $300k in revenue last year and was valued at $750M shortly after! Of course, they laid off like 20% of their staff recently.
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Re:Substack is laying off 14% of its staff by drexlspivey on Wednesday June 29, 2022 @05:55PM (#31926176)
Fast raised $100m in January 2021 and went bust a year later, they burned $10m per month and their revenues were like $300k
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Re:Substack is laying off 14% of its staff by nemo44x on Thursday June 30, 2022 @08:09AM (#31931372)
At least they were named well.
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Re:Substack is laying off 14% of its staff by throwawaypppu on Wednesday June 29, 2022 @04:48PM (#31925513)
Similar to Pear Therapeutics that SPAC merge announced at $1.6B on about $500k revenue 12 months to date. Professional Analysts put stock target at twice first listing price. Had been around 10 years. Products in market for years. Market cap now $235M.Trading at or below cash.
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Re:Substack is laying off 14% of its staff by prewett on Wednesday June 29, 2022 @06:54PM (#31926695)
Wow, that reminds me of Agillion, a dot-bomb which got $40 million of VC investment and $20 million in loans and had "hundreds of dollars" in sales. Plus $200k the founder(s) paid for the code in the bankruptcy.

[1] https://www.dcpartners.solutions/2022/02/agillion-what-was-i...

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