๐ย โขย 5m
Loopt did raise around $39 million in venture funding before it was sold. However, even in smaller exits like that, founders usually keep a small percentage of equity, unless they are completely diluted (which wasnโt the case with Sam). It's likely that Sam still held a few percent of Loopt at the time of sale which would have been enough to personally make a few million dollars after the acquisition as per my understanding. Founders almost always reserve some equity unless they raise multiple big rounds and get fully diluted, and Loopt wasnโt a multi-billion-dollar venture-backed company where that usually happens. So while investors got most of the exit value, Sam still walked away with a meaningful personal payout - enough to kickstart his investing career.
Figuring Outย โขย 7m
Sam Altman's First Startup! So before founding OpenAI and leading Y Combinator, Sam Altman founded Loopt! Loopt was a location-based social media app launched by @sama in 2005. It was very similar to any other social media platform, like it had ch
See MoreStudent| Passionate ...ย โขย 7m
Sam Altman started coding at the age of 8. Born in 1985, Chicago, attended John Burroughs School and later to Stanford Univ, dropped out in 2005. Continued to pursue his passion for tech and entrepreneurship, founded Loopt (location based social netw
See MoreG.P Seed-VC|Investin...ย โขย 11m
๐ค On another day, Someone asked me the difference between Founders vs Venture Capitalist? He challenged me to say it in 1 Sentence ๐ฅ "Founders also raise funds & Investors also raise funds.. What's the BIG difference bro?" Then I said this:
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Medialย โขย 10m
STARTUP TERMS TO KNOW -Day 2 1.ANGEL INVESTOR - An individual who provides capital to startups in exchange for equity. 2.VC (Venture Capital) - Financing provided to startups by venture capital firms. 3.EQUITY - Ownership stake in a company. 4.SE
See MoreStartups/VC/techย โขย 1y
A startup is seeking a Seed investment. The startup is valued at $5 million pre-money and is looking to raise $650,000 in this round. After this round, the startup plans to raise an additional $2.5 million in a series A round at a post-money valuatio
See MoreThatmoonemojiguy ๐ย โขย 3m
Watch This Before Starting a Startup โ Sam Altmanโs Truth Still Holds Back in 2017, Sam Altman gave a masterclass on what really makes startups succeed. Fast forward to today, and OpenAI is living proof that he wasnโt just talking , he was building
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