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Eric Siu questions a startup's decision to spend $12 million of its $25 million raise on the domain icon.com. He argues the money would have been better spent on hiring or building technology, though he admits the domain probably converts well.
Eric Siu questions a startup's decision to spend $12 million of its $25 million raise on the domain icon.com. He argues the money would have been better spent on hiring or building technology, though he admits the domain probably converts well.
They raised $25 million and they spent $12 million on a domain. So what are our thoughts on this overall? They just wasted $12 million. They bought icon.com. I think this page probably converts well. So the site alone is fine. I think the $12 million, he should have held off on that a little bit and use it to hire an amazing team or build out some type of amazing tech. I think spending half of your money that you raised like that, I hope he's a legend. I just, I don't think I'm good enough to do that.
