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EMERGENCY POD: FTX sells to Binance with Vinny Lingham and Sunny Madra | E1607
This Week in Startups
VC and FTX - What's Leverage?
FTX raises 40 million dollars out of 1.2 billion dollar valuation in January 2020. Investors include Pantera Capital, Evangelion, Never-A-Bit Scale Capital, BR Capital. They 15X valuation in 20 months. By July 2021, FTX raises a billion dollars at 18 billion. Then finally, in January 2022, they raise at yet another 30% higher valuation,. 500 million dollars raise at a 32 billion dollar valuation. Our Insight, Lightspeed, Paradigm, Tiger, and Softbank passed on those rounds. I personally think it's all going to go to zero. Equity is always going to lose out.
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