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by AndreasHae 1142 days ago
> Sam Altman himself failed with his original startup (Loopt)

I wouldn’t exactly consider being acquired for $43M a failure.

1 comments

For context, Loopt raised $39M and was then acquihired for $43M by a bank that scrapped their product and used the team to write a mobile banking app. So the VCs got out but doubtful that anyone involved in Loopt got rich out of it. Also that has to rank as the most expensive way to hire mobile developers in history so I do wonder what the real story is there, surely there was something going on behind the scenes to justify that?