Secondhand Clothing Marketplace Twice Is Putting Up $1M To Acquire YC Companies

I'm incredibly curious about how the Twice investors feel about this allocation of capital.

So who's the product now?

Hey everyone, I'm the co-founder of Twice. Just wanted to add my 2 cents too.

- @jboggan, agreed. YC knows how to pick em.

- We're only planning on one acquisition for now.

- Yep, it's a mix of cash and equity -- we haven't quite finalized all the details -- and everything will vest (as is standard), but you'll at least be able to buy a car on day one.

- The equity is valued based on our Series A valuation, which, unfortunately, was substantially less than $100 trillion :-)

- It's definitely an expensive proposition for us, but awesome people make awesome companies, so we think it's worth it.

More at restartfund.com. Feel free to shoot me an email as well (noah@liketwice.com)

Hmm, let's say they pay YC their liquidation preference, pay Milner's note, and give the team a small signing bonus and new salaries for the new mission.

Twice could probably do up to 5 such acqui-hires with $1M cash. It fits nicely with their second-hand clothing theme, while ensuring some consideration from any YC team on the verge of liquidating their existing organization.

...and therefore it's natural that the industry would develop other institutions that fill the same role.