Re:Net startups slow their metabolism
by curiousgeorge on Monday October 27, 2008 @01:08AM
(#344868)
"Though it has paltry revenues and just 20,000 registered users, the company pays only $8,000 a month to rent its offices in San Francisco and has received $8 million from investors."
$8 million? And all they can get is 20,000 registered users??? You've got to be kidding me.
"The company raised $35 million three years ago and, thanks to financial prudence, has $20 million in the bank."
$5 million burn rate a year for failed company is prudence?
-------------------
All reading this sort of coverage does is make me feel that anyone wanting part of our company will have to pay through the nose for it.
$8 million? And all they can get is 20,000 registered users??? You've got to be kidding me.
"The company raised $35 million three years ago and, thanks to financial prudence, has $20 million in the bank."
$5 million burn rate a year for failed company is prudence?
-------------------
All reading this sort of coverage does is make me feel that anyone wanting part of our company will have to pay through the nose for it.