News for hackers. Stuff that matters.

A comment on Ask HN: YC misses that went on to do well (like veed.io). Parent comment

Re:Ask HN: YC misses that went on to do well (like veed.io) by Jasper_ on Monday September 05, 2022 @02:39PM (#32727661)
Wyre got acquired for 1.5B by Bolt? Wasn't Bolt doing heavy layoffs and downsizing after it was revealed literally nobody used their payments system, and they locked their employees in predatory loans?

How much of that 1.5B was real money, and how much was soon-to-be worthless stock?

[ Parent | on HN ]
Re:Ask HN: YC misses that went on to do well (like veed.io) by mahmoudimus on Monday September 05, 2022 @04:50PM (#32729284)
I believe it was an all cash txn
[ Parent | on HN ]
Re:Ask HN: YC misses that went on to do well (like veed.io) by Kkoala on Monday September 05, 2022 @07:04PM (#32730526)
That seems unlikely. Startup acquiring another startup is rarely all cash deal.

Also according to CrunchBase Bolt has raised about $970 million in total. Their revenue is at somewhere around $20-50 million, so they wouldn't even had the cash. Also seems unlikely they would have taken or gotten a massive loan to do an all-cash acquisition like that

[ Parent | on HN ]
Re:Ask HN: YC misses that went on to do well (like veed.io) by xenospn on Monday September 05, 2022 @03:53PM (#32728631)
Another Silicon Valley scam.
[ Parent | on HN ]