Comment on 23-year-old donates US$1M to support Waterloo student entrepreneursComments−cheez15yHow is a free text messaging app making the founder rich enough to donate $1M?−oniTony15yVC monies from Fred Wilson and co. http://www.avc.com/a_vc/2011/03/kik.html−yblokhin15yThis is not a company donation but a personal one.−cheez15yI see, so is there any revenue?−cal5k15yAs part of the VC round he sold some of his personal shares. This $1M is, presumably, coming from that amount.
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How is a free text messaging app making the founder rich enough to donate $1M?
VC monies from Fred Wilson and co. http://www.avc.com/a_vc/2011/03/kik.html
This is not a company donation but a personal one.
I see, so is there any revenue?
As part of the VC round he sold some of his personal shares. This $1M is, presumably, coming from that amount.