on May 8, hunting cloud network
once-thriving startup Secret recently closed. For most of the entrepreneurs in silicon valley, the Secret to give them about a thought-provoking story about how to run a company.
for early supporter of the use of Secret – Google Ventures (Google Ventures), the Secret is to give them a good on the lesson: what kind of companies shouldn’t investment.
two former Google employees David Byttow and Chrys Bader to jointly develop the application of Secret. Secret just launched when caused the media. This is a allows the user to anonymous friends and friends of friends to share the ‘secret’ application. The application of this novel soon in the middle of the media, investors, and the valley the founder of the popular, make Secret easily from Google vc and Kleiner Perkins Caufield & byers VCS (Kleiner Perkins Caufield & amp; Byers) both wind investment the company won the early rounds of financing.
in the scenery for a while, that is, a few months later, Secret and ambitious plan to a new round of financing, the financing goal is $25 million. Google ventures managing partner Bill Maris think it wrong, so he was not involved in the financing of company.
“we tried to persuade them to stop the financing,” explained in a later interview Maris, Maris mouth they mean is that leaders of the Secret, “we want them to understand the Secret is not short of money. So frequently, financing, can make the company’s products is difficult to meet the expectations of the outside world in the future.”
is the so-called art originates from life, and life imitating art, on HBO’s TV drama “silicon valley” of the latest episode when it comes to a young founder more vc is received by the high valuation provided millions of dollars in financing. But in the end, the founder to listen to the advice of a wise man chose small financing, only to finance more smoothly in the future, more reasonable development goals.
but in reality, the founder of the Secret is not to listen to the advice of the wise. Soon completed by the index of vc and red dot vc companies get for $25 million in financing, among them there are some personal angel investors. After this round of financing, the founders took $3 million in their own pockets, for a mature enterprise move above reproach, but for the start-up, the newly established to do so is very rare.
“it is to rob a bank,” Maris said bluntly, “which have startup done!”
at the time, the two founders – Byttow declined to comment, while Bader did not make any comments.
to Google ventures, who was not involved in a $25 million funding is a wise choice. According to App Annie (hunting cloud network note: application data analysis services), according to data from the 2014 Secret downloads. So the Secret to redesign the style of the whole application, make it looks more like a rival Yik Yak shanzhai, but still can’t improve the downloads. Most employees, including Bader himself, have left the company.
last week, Byttow announced will close his company, and will return the remaining money to investment company. But the founders didn’t mention this whether to include them in the rest of the money into his pocket, 6 million.
Google vc Maris, said he was unaware of the two founders took the money in what to do, but he thinks they should return all the money away.
“I think they should pay all the money,” said Maris, “some to pay tax, the other went and bought a red ferrari, while sports car is sell them now.”
a little wider, said Maris, in turn, explains, the founder of Secret so eager to get financing and on the other hand, reflection and their style is very different from Google.
“they have done too much, and obviously run against our values (Google),” Maris continued, “what did they have the real thing? They really made a little achievement, but that was just a flash in the pan.”
but the tough-talking venture capitalists on the founders are not all criticism. At least then he said: “the Secret of the founder could have until the last moment, eat up all the money. But they found no conscience to do so, but also very have the courage to put the money back to investors – so at least they mouth said.”
later, Maris and published a new article on the net, to expound his views on the founder of the Secret. He says he feels admired for their efforts by Secret. David (David Byttow) has been in the hope that all of his effort to Secret of employees and investors a good replacement, it is worthy of our respect.
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