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upon_drumhead
on June 17, 2023
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Crypto startup Wyre, once valued at $1.5B, officia...
> The company has been limping along for some months after Bolt cancelled its deal to buy the company for $1.5 billion last year.
Does this valuation matter at all if no one actually invested at the stated value?
ShamelessC
on June 17, 2023
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How much funding did they receive?
anotherhue
on June 17, 2023
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"How much money did they waste?" is perhaps a more honest way of phrasing this.
ShamelessC
on June 17, 2023
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Oh one hundred percent. Had thought that goes without saying at this point.
senttoschool
on June 17, 2023
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It's likely more than 100% because they waste external people's time as well, such as ours right now.
jjtheblunt
on June 17, 2023
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What happens to the source of the 29.1 million dollars? Just a total loss? (Obviously I’m not an accountant)
senttoschool
on June 17, 2023
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Yes, unless they shut down with some cash left, which they will likely be obligated to return to investors/creditors.
jjtheblunt
on June 17, 2023
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“OMG”: so how does anyone get convinced to invest, as it seems like gambling with a very high chance of total loss?
khuey
on June 17, 2023
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$29.1 million according to Crunchbase.
https://www.crunchbase.com/organization/wyre
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Does this valuation matter at all if no one actually invested at the stated value?