[HN Gopher] AngelList Venture Raises $100M on a $4B Valuation
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       AngelList Venture Raises $100M on a $4B Valuation
        
       Author : kapilkale
       Score  : 77 points
       Date   : 2022-03-08 18:29 UTC (4 hours ago)
        
 (HTM) web link (www.angellist.com)
 (TXT) w3m dump (www.angellist.com)
        
       | guessmyname wrote:
       | I am still salty about a ban AngelList applied on my profile
       | after I reported a (supposedly) CEO of a Los Angeles startup for
       | insulting me when I rejected an invitation to join them. Instead
       | of banning this person's account, they banned mine.
       | Interestingly, AngelList still sends me emails saying "[User] is
       | interested in your profile", even though I can't log into the
       | platform anymore. The unsubscribe button doesn't even work.
        
         | pluc wrote:
         | Same kind of feedback here though I wasn't banned, my complaint
         | was just ignored.
        
         | amitm wrote:
         | hi - CEO of AngelList Talent here. Sorry about that. Could you
         | email me at amit@angel.co and I can get it sorted
        
       | mxstbr wrote:
       | I'm confused by AngelList's corporate structure. Venture is a
       | separate company that raises money on its own, ProductHunt
       | belongs to a separate holding company[0] -- what even is
       | "AngelList" now?
       | 
       | [0]: https://writings.prologue.xyz/introducing-prologue/
        
         | sadfounder wrote:
         | Add Republic(https://republic.com/)
        
           | phphphphp wrote:
           | I wasn't aware that they owned Republic -- they're just an
           | investor, I think.
        
         | amitm wrote:
         | https://www.readthegeneralist.com/briefing/angellist gives a
         | good breakdown
        
         | verdverm wrote:
         | The company split in two about a year and a half ago (maybe
         | more?) into hiring and venture.
        
           | your_username wrote:
        
           | sadfounder wrote:
           | Link?
        
             | mylons wrote:
             | this is correct. I interviewed with the company that raised
             | in the fall. They are working purely on products and
             | services for venture capital and those participating in it.
             | Some VCs have been raving about how great these products
             | are on twitter. I'm not a VC so I don't have a strong
             | opinion or really anything qualified to say on how viable
             | or worthwhile they are, though.
        
       | radihuq wrote:
       | 40x valuation seems crazy, even in 2022. Is this the new norm, or
       | is AngelList Venture an exception?
        
         | [deleted]
        
         | manquer wrote:
         | 40x of ? they don't have any disclosed revenue numbers .
         | 
         | $100m/ $4B is not 40x valuation it is just that they are
         | diluting only 2.5% for that $100m . It just means they need
         | only relatively small amount money and are in good spot
         | financially and can afford to dilute very less.
         | 
         | Had they raised $500m on $4B post or $1B on $4B post the
         | valuation is not changing to 8x or 4x.
         | 
         | Why should they raise more than they need because their
         | valuation is high? Should they raise $200m if the valuation is
         | $8B ? If they need only $100m in capital , they only need to
         | only dilute that much.
        
           | radihuq wrote:
           | Good breakdown, thanks!
        
             | candiddevmike wrote:
             | There are risks with huge valuations like this: you need to
             | keep growing your valuation. Down rounds[1] can be a death
             | sentence, especially as we're most likely entering a
             | recession.
             | 
             | 1: https://www.investopedia.com/terms/d/downround.asp
        
             | vmception wrote:
             | Another way to put it is just "someone bought shares at
             | this price." which isn't really news.
             | 
             | the private market uses lingo that is different from the
             | public markets, and then brags about it if convenient to do
             | so, such as for other clout. amounts undisclosed if not
             | convenient, such as if its too low or a "down round" which
             | just means "someone bought shares at a lower price than the
             | last person" which is also not really news in the public
             | markets, but supposedly damning in the private markets.
        
       | mikeodds wrote:
       | Funny read in relation to Bitclout's raise through AngelList and
       | a user getting banned for sharing a screenshot that had been
       | shared to them through telegram
       | 
       | https://mobile.twitter.com/cobie/status/1387037537454026760
        
       | your_username wrote:
        
       | newaccount2021 wrote:
        
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       (page generated 2022-03-08 23:01 UTC)