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Author Topic: How 2 startup founders with no product, no users and no real proof their company would work raised $3 million — then built a company worth $1.3 billion  (Read 893 times)

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rangerrebew

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How 2 startup founders with no product, no users and no real proof their company would work raised $3 million — then built a company worth $1.3 billion
« on: Sunday, Jul 09, 03:12 am »
How 2 startup founders with no product, no users and no real proof their company would work raised $3 million — then built a company worth $1.3 billion

    Alyson Shontell
 

Robinhood is a commission-free stock trading app that was recently valued at $1.3 billion. But when the company was first starting, there was very little proof the founders could pull it off.

Vlad Tenev, cofounder and co-CEO of Robinhood, says his app could not get regulatory approval without having a sizeable amount of funding from venture capitalists. But most venture capitalists didn't want to give him money, because he had no product.

http://www.businessinsider.com/robinhood-how-founders-raised-seed-round-with-no-product-2017-7
« Last Edit: Sunday, Jul 09, 03:13 am by rangerrebew »
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Offline mountaineer

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Re: How 2 startup founders with no product, no users and no real proof their company would work raised $3 million — then built a company worth $1.3 billion
« Reply #1 on: Sunday, Jul 09, 03:36 am »
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[H]umanity repeats the worst mistakes of previous generations and ... every free, prosperous civilization will eventually be destroyed by that small fraction of its people who find no satisfaction in anything but anger.
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