Re:FTX Contagion
by rexreed on Tuesday December 06, 2022 @10:12AM
(#33881256)
Oh Sequoia. The company that put $41M in a single seed round into a company that did... nothing: https://www.businessinsider.com/how-the--did-color-raise-a-c...
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Hmm, the article seems to suggest that perhaps Bain put up the majority of that round.
The update in that article said:
"Update: CNET's Caroline McCarthy tweets at us: "Sounds like a good theory, except that a Color exec told me Sequoia's $$ was nearly triple Bain's." So we're back to: HOW DID THIS HAPPEN?"
So Sequoia put in nearly triple what Bain put in. The article was just guessing before the update.