Funny read in relation to Bitclout’s raise through AngelList and a user getting banned for sharing a screenshot that had been shared to them through telegram
I'm confused by AngelList's corporate structure. Venture is a separate company that raises money on its own, ProductHunt belongs to a separate holding company[0] — what even is "AngelList" now?
this is correct. I interviewed with the company that raised in the fall. They are working purely on products and services for venture capital and those participating in it. Some VCs have been raving about how great these products are on twitter. I'm not a VC so I don't have a strong opinion or really anything qualified to say on how viable or worthwhile they are, though.
I am still salty about a ban AngelList applied on my profile after I reported a (supposedly) CEO of a Los Angeles startup for insulting me when I rejected an invitation to join them. Instead of banning this person’s account, they banned mine. Interestingly, AngelList still sends me emails saying “[User] is interested in your profile”, even though I can’t log into the platform anymore. The unsubscribe button doesn’t even work.
I decided to send an email to invest@angel.co instead, requesting deletion of my personal information based on Art. 17 GDPR - Right to erasure ('right to be forgotten'). Rick Segers promptly confirmed that my profile had just been deleted following my request. That is good and all, but I would have liked more the same level of responsiveness 1.5 years ago when I reported the insults from the alleged CEO.
there is a little miscommunication. I got an automated message saying 'lots of people are intersted in your profile, we'd love to promote it', but the person in charge of that really thought my profile was garbage and didn't want to. ok, your choice...1 week later the same message
40x of ? they don't have any disclosed revenue numbers .
$100m/ $4B is not 40x valuation it is just that they are diluting only 2.5% for that $100m . It just means they need only relatively small amount money and are in good spot financially and can afford to dilute very less.
Had they raised $500m on $4B post or $1B on $4B post the valuation is not changing to 8x or 4x.
Why should they raise more than they need because their valuation is high? Should they raise $200m if the valuation is $8B ? If they need only $100m in capital , they only need to only dilute that much.
Another way to put it is just "someone bought shares at this price." which isn't really news.
the private market uses lingo that is different from the public markets, and then brags about it if convenient to do so, such as for other clout. amounts undisclosed if not convenient, such as if its too low or a "down round" which just means "someone bought shares at a lower price than the last person" which is also not really news in the public markets, but supposedly damning in the private markets.
There are risks with huge valuations like this: you need to keep growing your valuation. Down rounds[1] can be a death sentence, especially as we're most likely entering a recession.
https://mobile.twitter.com/cobie/status/1387037537454026760