Earlier quoted context omitted.
It's what makes HN so great. Even the original Dropbox "Show HN" pitch was agressively cynical about it; "I can do the same thing with a linux box and some scripts...", etc.
Would love to see this post if you have it handy.
Confirmed: Walmart buys Jet.com for $3B in cash
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Re: Confirmed: Walmart buys Jet.com for $3B in cash
#72Earlier quoted context omitted.
Very much napkin math, take with salt: $3b purchase price + $300m in Walmart options The company raised $500-800m at at least a $1b valuation, no idea on later round(s), seem less reported, maybe a downish round? Investor liquidation preference guarantees investors get their money back 1x or 2x or 3x or whatever (assuming they don't lose all of it). So if they raised at a $1b valuation, sell for $3b, a 2x preference…
> $10m is probably best case scenario (after taxes, you can afford a pretty nice place in the Bay Area and have some left over) That's an extreme overstatement - a 'pretty nice place' in the bay area would cost in the $1M range, maybe $2M if you have a pretty jaded view of 'pretty nice'. > you just made a million bucks, which will be about 700k after taxes. More like 500K - 39.6% federal and up to 12% CA state tax.
[deleted]
Re: Confirmed: Walmart buys Jet.com for $3B in cash
#73Re: Confirmed: Walmart buys Jet.com for $3B in cash
#74Earlier quoted context omitted.
They're not just buying a pile of code. They're also buying an energized and engaged team that they hope will be able to modernize Walmart's ecommerce systems. They wouldn't have gotten that if they had purchased a broken failure of a company somewhere down the road.
Doesn't Walmart already have pretty decent tech? I recall seeing some impressive scalability blog posts from the team st "Walmart labs."
As far as I know, Walmart labs is active in nodejs, front end and instrumentation. That's cool and all, but Jet knows how to build a lot more difficult things than that, like personalization, promotion planning, pricing strategies, etc.
Re: Confirmed: Walmart buys Jet.com for $3B in cash
#75Earlier quoted context omitted.
Very much napkin math, take with salt: $3b purchase price + $300m in Walmart options The company raised $500-800m at at least a $1b valuation, no idea on later round(s), seem less reported, maybe a downish round? Investor liquidation preference guarantees investors get their money back 1x or 2x or 3x or whatever (assuming they don't lose all of it). So if they raised at a $1b valuation, sell for $3b, a 2x preference…
> $10m is probably best case scenario (after taxes, you can afford a pretty nice place in the Bay Area and have some left over) That's an extreme overstatement - a 'pretty nice place' in the bay area would cost in the $1M range, maybe $2M if you have a pretty jaded view of 'pretty nice'. > you just made a million bucks, which will be about 700k after taxes. More like 500K - 39.6% federal and up to 12% CA state tax.
Median home price in SF is $1m, in antioch it's $365k. But yes, I'm jaded and sarcastic, so I mean "pretty nice" in a "no shit it's pretty nice!" kind of way. Yes, it's literally an extreme overstatement, with humorous intent if not impact.
Re: taxes, capital gains.
Re: Confirmed: Walmart buys Jet.com for $3B in cash
#76Jet.com is a big user of the F# language. Will be interesting if they get Walmart on board too.
I know a few teams in Walmart Labs use Clojure, so there's at least some small percentage of the tech side adept in the functional world.
Re: Confirmed: Walmart buys Jet.com for $3B in cash
#77Earlier quoted context omitted.
It ain't HN without some good ol' cynicism.
It's what makes HN so great. Even the original Dropbox "Show HN" pitch was agressively cynical about it; "I can do the same thing with a linux box and some scripts...", etc.
I'll never understand remarks like that. The people who can put together something with similar functionality to Dropbox are by far in the minority. It's like having access to tons of scrap and be able to weld and dismissing metal bed frames because "I can do the same thing with some welding and scraps".
Also the claim that it would eliminate my need for a USB drive was 100% on point.
Re: Confirmed: Walmart buys Jet.com for $3B in cash
#78Re: Confirmed: Walmart buys Jet.com for $3B in cash
#79Jet.com is a big user of the F# language. Will be interesting if they get Walmart on board too.
Walmart.com is a pretty big user of Scalia already
Clojure as well, e.g.: http://blog.cognitect.com/blog/2015/6/30/walmart-runs-clojur...
They're pretty language agnostic from what I've heard, not always in a good way.
Re: Confirmed: Walmart buys Jet.com for $3B in cash
#80Earlier quoted context omitted.
Very much napkin math, take with salt: $3b purchase price + $300m in Walmart options The company raised $500-800m at at least a $1b valuation, no idea on later round(s), seem less reported, maybe a downish round? Investor liquidation preference guarantees investors get their money back 1x or 2x or 3x or whatever (assuming they don't lose all of it). So if they raised at a $1b valuation, sell for $3b, a 2x preference…
> $10m is probably best case scenario (after taxes, you can afford a pretty nice place in the Bay Area and have some left over) That's an extreme overstatement - a 'pretty nice place' in the bay area would cost in the $1M range, maybe $2M if you have a pretty jaded view of 'pretty nice'. > you just made a million bucks, which will be about 700k after taxes. More like 500K - 39.6% federal and up to 12% CA state tax.
For what it's worth, Jet is based in Hoboken, NJ.