The article mentions that the business still had almost zero revenue in 2022, which would seem to mean that it went for 5 years and through Series A without making any money?
Congrats to the team, but what really strikes me about this article is how unfamiliar that story feels in today's startup environment.
It's kind of interesting to think about how tighter funding environments lead to teams breaking up and reorganizing more often (likely within the 5 year period for Clay) whereas the looser, ZIRP-like environment allowed the same team to keep learning and iterating in roughly the same space until it eventually worked.
Comments
The article mentions that the business still had almost zero revenue in 2022, which would seem to mean that it went for 5 years and through Series A without making any money?
Congrats to the team, but what really strikes me about this article is how unfamiliar that story feels in today's startup environment.
It's kind of interesting to think about how tighter funding environments lead to teams breaking up and reorganizing more often (likely within the 5 year period for Clay) whereas the looser, ZIRP-like environment allowed the same team to keep learning and iterating in roughly the same space until it eventually worked.