Q Explain to me the strategy behind doing kind of initial large close on a series B and then almost a year later adding five million on top of that. Strategically, why do you do that? Assuming my, my research is correct and that's what you did.
A Sure. Uh, it's very tactical. Uh, you know, we, we had originally done a series B, uh, gosh, when was it? I guess it was back in mid-two 1015, I want to say. And at the time, you know, we were fortunate enough to have multiple term sheets, and, uh, we ended up taking a, a, a series B with, with, you know, a great partner. Uh, you know, our partners today include, uh, Sequoia and Mayfield and, and, and battery. And we were fortunate enough to have multiple term sheets. So at the time, uh, you know, one of the investors came and said, hey, can we add a little bit more money? And at the time, you know, we didn't really need more money. I didn't really want the dilution. The sun was shining in the VC environment. Uh, and then towards the end of 2015, uh, you know, people started downgrading Uh, the value of Snapchat and all these other unicorns, and, and people were thinking that winter was, you know, rain clouds were forming, and people were thinking that winter is coming again in the VC environment. And, um, You know, it turns out later that after a year, it looks like the rain clouds have disappeared by the time we didn't know. So we, we had an opportunity to, uh, bulk up the balance sheet by another five million dollars. And when I saw rain clouds forming, I said, Hey, you know, maybe it makes sense to get a winter coat from a capital perspective, just to have a, you know, a he…
AI assessment note: “when I saw rain clouds forming, I said, Hey, you know, maybe it makes sense”