Ida Tin, co-founder and CEO of Clue, describes the financing milestones and convertible notes leading up to Clue's first priced venture round.
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“And that went until we had raised I'd say about a million euros maybe. And then we did our first financing round, a price round. And then we got some super angels on and the last angel put in a million euros. So pretty big. Angel. And then from there we went to VCs.”
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Opinion
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“I mean, when you look at the tech community, that's, you know, valuations are not set by revenue.”
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Disclosure
Clue is pre-revenue by strategic choice to focus on growth
“So we don't generate revenue. I think that's the first thing to say. We have a lot of ideas on how we will generate revenue, but we have made the strategic choice to focus on growth for now.”
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AssertionSupported
Tin: Only 30% of women in Europe and America use hormonal birth control
“Only 30% of women in Europe and America is actually on hormonal birth control.”
Ida TinFeb 23, 2016▶ 5:19How To Build App Worth $10m With 3 Million Users with Ida Tin of Clue EP 154
AssertionSupported
Clue has raised $10 million to date, including from USV
“Yes, we have raised ten million dollars to date from Union Square Ventures and other very good investors.”
Ida TinFeb 23, 2016▶ 2:27How To Build App Worth $10m With 3 Million Users with Ida Tin of Clue EP 154
AssertionSupported
Tin: Clue is approaching 3 million active users
“So we have about approaching three million active users right now.”
Ida TinFeb 23, 2016▶ 9:00How To Build App Worth $10m With 3 Million Users with Ida Tin of Clue EP 154
AssertionNot checkable as stated
Clue's monthly headcount burn rate is approximately $200,000
“Yeah, Berlin is a little bit cheaper, but I mean, it's something of that magnitude, yeah.”
Ida TinFeb 23, 2016▶ 12:50How To Build App Worth $10m With 3 Million Users with Ida Tin of Clue EP 154
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