“I just need a few million more, man…”
The company, which recently raised $20 million in a wildly successful Kickstarter, currently has 150 employees and is still hiring. Even with the crowdfunding infusion – which amounts to about $18 million after fees – the company is shopping for VC money in order to maintain growth and turned to a bank loan “in order to stay afloat.”
These start-ups that need continual injections of money sound more like junkies than legitimate companies.
“I promise man, this is the last time I’m going to ask you for money… I’m cool, I’m cool. Vegas cleaned me out, but I’m a new man now.”