[itsoktocry]

>Environment -- Cashflow negative meaning another raise was required without fiscal controls

The company was founded almost 20 years ago, and went public in 2016..and they are still needing to raise money?

I mean, this isn't a capital intensive space, right? What's the deal?

[vineyardmike]

They spent a ton of money buying other companies. That’s always capital intense.

Software isn’t capital intensive the way a large industrial factory would be, but it still has unfavorable financial conditions that require raising. You can’t sell software until you’ve built it, so you have to incur a large employee/R&D expense for years until the product is ready. And of course none of that is IP that you can just get a loan against (unlike say, building a factory).

[fshr]

> You can’t sell software until you’ve built it

It’s funny to contrast that with the video game publishers. They’ll push to sell things that aren’t even close to finished, make bank, and do it again and again.