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Dillon here (CEO @ Paperspace, YCW15). I want to give a huge thanks to the YC community and all the support over the years. We have always admired DO and couldn't be happier to join forces!
Grats on the sale either way.
Dillon here (CEO @ Paperspace, YCW15). I want to give a huge thanks to the YC community and all the support over the years. We have always admired DO and couldn't be happier to join forces!
I’m surprised by this. Digital Ocean is in no position to be splurging on new revenue streams. They’re underwater and making a loss [0]. They’ve got growing revenue but falling profits and they’ve got more debt than assets. They may want to raise their droplet prices, or issue more stock and then refocus on making their business profitable. [0] valustox.com/DOCN
People buying companies just to get their hands on some more Nvidia GPUs.
Ignorant question, but where is ATI in the AI/ML space? I only ever hear about NVidia and it's Cuda.
The gaming community also used Paperspace sometimes for PC game streaming. It allowed users to install Steam or other clients to tap into existing libraries. I found about it in the reddit /r/cloudygamer sub and used it temporarily on vacation to play Assassin's Creed Odyssey and it worked pretty well.
True, but i would say shadow.tech is way better valuable for money.
$111M exit on $35M. Seems meh for seven years effort. Were prospects cloudy? Better return over seven years for most employees (possibly even founders) working up through a FAANG. I’m sure YC did great, of course.
I think exit is timely because there's the dire possibility of fading AI/LLM hype that's where GPU demand would fall off the cliff not only on the server side but also that many devices might have better inference hardware.
$111M exit on $35M. Seems meh for seven years effort. Were prospects cloudy? Better return over seven years for most employees (possibly even founders) working up through a FAANG. I’m sure YC did great, of course.
Earlier quoted context omitted.
If you want to share some more (approximate) numbers, I'm very curious. What equity percentage did you have at the start? And were your shares worth more at an earlier investment round than at the exit?
Starting equity was a little less than 10%. Valuations went up as several rounds were raised up to $30+m and share value went up until at one point it was north of $20m paper dollars. After market re-valuation an additional $60+m was raised and value went down a little but was still substantial. Then the IPO market all but disappeared. Final sale price was around $150m and common shareholders including myself initial…
$111M exit on $35M. Seems meh for seven years effort. Were prospects cloudy? Better return over seven years for most employees (possibly even founders) working up through a FAANG. I’m sure YC did great, of course.
What is $35M here? Also, YC2015 would make it about 8 years run in 2023. I think exit is timely because there's the dire possibility of fading AI/LLM hype that's where GPU demand would fall off the cliff not only on the server side but also that many devices might have better inference hardware.