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as the OP says: > but what are you giving away for this? Are founders selling their shares? Where is the beef? $70M can be everything and nothing at the same t
by comice 3y ago
as the OP says:
> but what are you giving away for this? Are founders selling their shares? Where is the beef? $70M can be everything and nothing at the same time.
- deleted 3y ago[deleted]
- tptacek 3y agoYou get that there's a whole section of this post headlined "Why We Raised A Bunch Of Money", right?
- comice 3y agoyes and I reread it a few times in case I was missing something. I even turned my adblocker off in case it was removing the section that answers OP's questions but it didn't appear. It's obviously perfectly fine if you don't want to or can't answer those questions and nobody is owed answers to them. Just, you're known for a straight talking style so the omission is conspicuous.
- tptacek 3y agoI honestly don't know what it is you're looking to hear. We said what we're using the money for: hardware, rolling out more regions, and a bunch more support and infra engineers.
- comice 3y agoyou are telling us what fly will be spending the money on. what OP is asking is, what did the investors receive in exchange for giving fly the money.
- tptacek 3y agoStock.
- comice 3y agothis might be the weirdest conversation I've ever had on this weird site.
- JamesBarney 3y agoI think the we give you stock, you give us money, we spend that money hiring is the a pretty common event.
- comice 3y agoyes very common. therefore it's highly unlikely to be what OP is asking about. by this point, it's hard not to conclude that OriginalMrPink and I are being wilfully misunderstood here. OP is interested in more details about the deal, particularly what power the investors might have, to ascertain for himself to what extent the investment might change the business.
- JamesBarney 3y agoProbably given a board seat, but usually the exact terms of a round are covered under NDA.
- comice 3y agoOP is very clearly able to make some guesses himself, as he does so in his comments.
- OriginalMrPink 3y ago"Why We Raised A Bunch Of Money" doesn't answer any of the questions above. I've seen private equity rounds disguised as traditional founding rounds, which is neither very transparent, nor very honest. Raising 70M just shortly after a 25M round makes me feel like there was more at play then just 'raising' money tbh. But I might be totally off here - but therefore disclosing a bit more than you currently do might be really helpful.
- tptacek 3y agoNone of this makes any sense. No PE firm buys a company like Fly.io. I honestly don't understand what either of you are getting at, but I'm confident when I say "you're way off".