[walterbell]

> Brain made a quarter of 1 Billion dollars

Incorrect. The company burned through venture capital for three years, then laid off 50% of workers and was sold in 2002 to vulture capital for ~$1MM with no cash trading hands, only a promissory note [1] to the previous underwater investors. No liquidity to founders.

The 2002 purchaser, Convex Group, scaled the company, took the company public via reverse IPO and sold it five years later to Discovery TV for $250MM. Seven years later, Discovery took a 82% loss, selling the company for $45MM.

[1] https://web.archive.org/web/20240717220914/https://genesis-c...

[willio58]

Oh interesting! The original article linked in the post really skips over all of those details and makes it seem like he sold the company for 250 million