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Earlier quoted context omitted.
What did you spend the money on? The other half goes where?
Mostly salaries to support a small team. We are returning the remaining capital to investors.
Earlier quoted context omitted.
Mostly salaries to support a small team. We are returning the remaining capital to investors.
I’ve never heard of this before. Anyone know if it’s uncommon? Familiar with creditors getting divvied in bankruptcies, but not refunds to investors… oh it’s because there’s never any money left when things wind down. (We hear of retail stores where employees discover closures posted on shop doors when reporting to work.)
Early stage startups tend not to have a lot debt to pay off, because there aren’t many places willing to offer them much credit.
I'm the co-founder and CEO of TensorZero. We started the company two and a half years ago, and raised $7.3m in 2024 (announced only almost a year later). We've spent less than half of this amount. Earlier this week we came to the difficult decision to wind down the project. The open-source repository remains available on GitHub (Apache 2.0) but won't be actively maintained by the team moving forward.
Are there any lessons around the why which may be publicly shared ?
I might publish a long-form reflection when the dust settles.
I'm the co-founder and CEO of TensorZero. We started the company two and a half years ago, and raised $7.3m in 2024 (announced only almost a year later). We've spent less than half of this amount. Earlier this week we came to the difficult decision to wind down the project. The open-source repository remains available on GitHub (Apache 2.0) but won't be actively maintained by the team moving forward.
Is there anything your willing to share on what went into the decision/ what you learned about trying to build this kind of product?
Earlier quoted context omitted.
Mostly salaries to support a small team. We are returning the remaining capital to investors.
I’ve never heard of this before. Anyone know if it’s uncommon? Familiar with creditors getting divvied in bankruptcies, but not refunds to investors… oh it’s because there’s never any money left when things wind down. (We hear of retail stores where employees discover closures posted on shop doors when reporting to work.)
When after a few months we accepted that it wasn’t going to work, our investor got basically all his money back.
It was pocket change amounts compared to the sums of money that they deal with in Silicon Valley. But the point is the same anyway, the investor got back basically everything.
Earlier quoted context omitted.
Mostly salaries to support a small team. We are returning the remaining capital to investors.
I’ve never heard of this before. Anyone know if it’s uncommon? Familiar with creditors getting divvied in bankruptcies, but not refunds to investors… oh it’s because there’s never any money left when things wind down. (We hear of retail stores where employees discover closures posted on shop doors when reporting to work.)
Earlier quoted context omitted.
20 engineers would be incredibly aggressive growth for such a young company with that amount of capital, no?
The real number is probably closer to ~13 engineers, because it costs a company the worker's salary _again_ for benefits, payroll taxes, etc., etc.