"The series A is essentially dying. If I can get an amazing valuation at a seed round, not give up a board seat, and keep complete control of the company, why not?" This is Ark co-founder Patrick Riley's reasoning for why instead of raising a Series A round, his people search engine just locked down a jaw-droppingly massive $4.2 million seed round. Ark will use the money from Andreessen Horowitz, Greylock Partners, SV Angel and more to build out its mobile and search teams, and do a big marketing push when it opens to the public. Riley believes more founders will try to avoid early Series A rounds that often come with an investor board member attached. This will help them stay more agile and avoid having to approve pivots or other big changes through outsiders. Riley tells me, "I think the future is larger seed rounds."
বৃহস্পতিবার, ২৬ এপ্রিল, ২০১২
Ark People Search Raised $4.2 Million Seed Round Instead of a Series A to ?Keep Complete Control?
"The series A is essentially dying. If I can get an amazing valuation at a seed round, not give up a board seat, and keep complete control of the company, why not?" This is Ark co-founder Patrick Riley's reasoning for why instead of raising a Series A round, his people search engine just locked down a jaw-droppingly massive $4.2 million seed round. Ark will use the money from Andreessen Horowitz, Greylock Partners, SV Angel and more to build out its mobile and search teams, and do a big marketing push when it opens to the public. Riley believes more founders will try to avoid early Series A rounds that often come with an investor board member attached. This will help them stay more agile and avoid having to approve pivots or other big changes through outsiders. Riley tells me, "I think the future is larger seed rounds."
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