Content
@
0 reply
0 recast
0 reaction
ted (not lasso)
@ted
following the $525M Praxis announcement and our own journey helping build IRL<>URL communities and meaningful experiences that leverage our digital future (farcaster, crypto, blockchain, etc), i feel there is no better time to share our next phase of making this future a reality: my pre-seed of exactly $0.00.
14 replies
12 recasts
180 reactions
Zach
@zd
I'd be surprised is this was a pure equity round My guess is $25M equity + $500M debt
2 replies
0 recast
9 reactions
ted (not lasso)
@ted
yes definitely some balance of venture debt and equity but with participation from three major crypto funds, there is one type of funding you’re missing ding ding ding TOKENS!!!
2 replies
0 recast
3 reactions
Zach
@zd
Totally! But that's likely done as a warrant to be exercised in future rounds. It may inflate the value a bit, but I highly doubt this round got done at $5B post (assuming ~10% dilution). I could see it getting done at $250m + using some word play to make it feel bigger.
1 reply
0 recast
0 reaction
ted (not lasso)
@ted
cc @nateliason great addition here https://warpcast.com/nateliason/0x4f66ed4d
1 reply
0 recast
2 reactions
Zach
@zd
If you believe there's a path forward for Praxis, then it's a great deal for them to take But the latter half of that text reflects the reality I see
0 reply
0 recast
1 reaction
