Well, this will be interesting to see what happens.
They have min. 1.5 MM in funding - assuming they are all taking between 75 and 150K salaries, that should be ~24 months of runway -- shrink the salaries back a bit, and expect equipment / development costs and I'd expect thats realistically 12 to 18 months of funding.
So far, skull ninjas have produced (3?) projects, two of which seem to be about sharing (locations, and ranked lists)...
So we have 3 co-founders on the list, one of which appears to be biz-dev focused, a couple devs and some idea guys.
What I want to know though, is what they showed the investors to push them off the cliff to the tune of 1.5MM - divided among 22 people is an average investment of 68K per person, lets assume that the range is 25K++ as a base.
That is both a lot of faith in Milk, and a wide spread on the total amount...
I certainly hope they come up with something killer, but I just get the feeling that Kevin put a lot of work into getting investment into his own little idea incubator solely based on cult-of-personality and not based on the-next-big-idea, that is awesome, and I know that every geek in the valley would wish to do the same - but lets see what they actually produce.
(p.s. Kevin, if you were the Kevin in the wompt chat thread - you should reach to to that kid from MIT)
Comments
Well, this will be interesting to see what happens.
They have min. 1.5 MM in funding - assuming they are all taking between 75 and 150K salaries, that should be ~24 months of runway -- shrink the salaries back a bit, and expect equipment / development costs and I'd expect thats realistically 12 to 18 months of funding.
So far, skull ninjas have produced (3?) projects, two of which seem to be about sharing (locations, and ranked lists)...
So we have 3 co-founders on the list, one of which appears to be biz-dev focused, a couple devs and some idea guys.
What I want to know though, is what they showed the investors to push them off the cliff to the tune of 1.5MM - divided among 22 people is an average investment of 68K per person, lets assume that the range is 25K++ as a base.
That is both a lot of faith in Milk, and a wide spread on the total amount...
I certainly hope they come up with something killer, but I just get the feeling that Kevin put a lot of work into getting investment into his own little idea incubator solely based on cult-of-personality and not based on the-next-big-idea, that is awesome, and I know that every geek in the valley would wish to do the same - but lets see what they actually produce.
(p.s. Kevin, if you were the Kevin in the wompt chat thread - you should reach to to that kid from MIT)
Random small companies are able to raise 1mm right now with little difficulty. A .5m delta to here isn't that big.
The co-founders might not have taken salaries..Kevin Rose is certainly set up to that type of $1 salary trend..