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Hey so SN raised a seed round
18.7k sats \ 94 comments \ @k00b 12 Jul 2022 meta
We raised 1.25m. 🥳
Max Webster at Hivemind led with Ross Stevens (the NYDIG one), Raymond Tonsing of Caffeinated Capital, Mishti Sharma with Caffeinated's Collective Fund, and Steve Lee filling up the rest.
Valuation was 25m post-money (which I like to reveal because I'm usually curious when other companies announce their raises).
Here's the pitch deck I used (huge assist from @kr on this): https://docs.google.com/presentation/d/1ONoS1VLKRYiG14ODx3tIboH9JdndxL2fQwlACWdULok/edit?usp=sharing
In total, this brings total raising to 1.55m and I've sold 10% of SN to people I really like.
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601 sats \ 0 replies \ @felix 13 Jul 2022

HUGE congratulations to you on this!!! 👏🚀

As I mentioned in my very first post on SN, I've been a fan of this concept from the moment I first saw it.
I immediately understood the value proposition. Create-to-earn, engage-to-earn --> let the actual value-generating stakeholders get rewarded for their time.
However, while it's awesome that people can earn by contributing content, I believe the much bigger benefit will become visible over time:
The incentive structure will enable...
  • Higher quality content
  • Deeper & more valuable discussions
  • No/less need for moderation
  • Leading to a fundamentally more sustainable platform.
TL;DR This model is not only an inherently fairer model, but more importantly, it will create experiences that were just not possible before!
(Let me know if/how I can help out, would love to contribute!)
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393 sats \ 0 replies \ @fiatjaf 12 Jul 2022
Now your star will continue to rise.
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1000 sats \ 5 replies \ @pony 12 Jul 2022
never is this site worth 25 Millions
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79 sats \ 3 replies \ @k00b OP 12 Jul 2022
Hey stop being mad about rewards.
An easy way to get rewards again if you aren't going to contribute content is to upvote good stuff and be the first to upvote good stuff.
Here's some sats.
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0 sats \ 2 replies \ @pony 12 Jul 2022
i am not mad, this is my honest opinion.
thanks for the sats though
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275 sats \ 1 reply \ @oli 13 Jul 2022 freebie
This is not how startup investing works. No one would buy Stacker News for 25M$ today. Investors are betting on @k00b's vision to build a Reddit competitor. If he is successful, they are potentially looking at 10% of a multibillion-dollar company, a pretty good payout. If it fails, they are collectively down 1.25M$. There's not much in between, so the current valuation number isn't all that critical.
Also, many people get funded for a vision before they even have a prototype so a 25M$ valuation isn't unusually high. The valuation is not based on what @k00b has built so far but on what @k00b plans to build.
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10 sats \ 0 replies \ @pony 14 Jul 2022
thanks for the explanation
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0 sats \ 0 replies \ @Kaffi 22 Feb 2023
to be fair it's essentially a custodial wallet with a social media aspect. I could definitely see Stacker.news taking more money without anyone even knowing because of how much our sats move around and the boosts and etc. This might be a really high-margin website.
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137 sats \ 0 replies \ @handsome_latino 13 Jul 2022
This is amazing news @k00b! Pitch looks great btw.
I would say disregard people who said investors dilute you and kill your idea, I for one have had bootstrapped businesses, struggling ideas, and our last project had investors who gave us all the liberty and space we needed to work. Hardly ever bothered and we had an A+ time with them.
I've been looking at your repo for some time and I'll try to contribute as soon as I come back from vacation. The idea is plain awesome.
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125 sats \ 2 replies \ @jimblogic 12 Jul 2022
Huge congrats! For anyone doubting on the short term or even maybe mid term sustainability of the platform this will keep them "calm and quiet" 😅. Any roadmap of cool stuff you are going to be working on now that the funding opens doors to more possibilities?
PS. Is the SN LN node public and sharable? I would love to open a hunble channel to you guys at some point.
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46 sats \ 1 reply \ @k00b OP 12 Jul 2022
Thanks!
The plans are in the deck. They're vague but so are our plans.
Node connection string is in the footer.
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0 sats \ 0 replies \ @jimblogic 12 Jul 2022
For anyone else as dumb as me, who couldn't find it at first glance:
03cc1d0932bb99b0697f5b5e5961b83ab7fd66f1efc4c9f5c7bad66c1bcbe78f02@xhlmkj7mfrl6ejnczfwl2vqik3xim6wzmurc2vlyfoqw2sasaocgpuad.onion:9735 (it's on the obvious "connect" copy section).
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128 sats \ 7 replies \ @pleb349 12 Jul 2022 freebie
SN seems like the perfect business to bootstrap and keep 100% ownership. I'd really reconsider. You can never get that ownership back. There are other options.
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205 sats \ 0 replies \ @btcschellingpt 14 Jul 2022
This is perfectly valid approach and usually ensures your business stays under your full control.. and generally, small. Get cash flow positive in a sweet niche you enjoy and there's a lot of happiness and stress-free existence that flows from that.
However, when your ideas and market and goals are MUCH bigger, it's better to travel in a group - more ideas, more connections, and more existing wheels to re-use rather than re-inventing/re-discovering everything alone.
Raising capital can be a smart thing to do, but you want smart money not dumb money. Smart money brings expertise, ideas and connections. Dumb money sits quietly and offers no additional input/value. Both have their place but don't confuse the two.
Hard won perspectives.
Congratulations @k00b on the raise - that shit is a lot of hard yards.
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94 sats \ 5 replies \ @k00b OP 12 Jul 2022
Too late lol ... SN wouldn't be where it is today without all the investors helping me. They've given me tons of great ideas and helped with so much.
I've tried bootstrapping, and its painful and lonely because you're the only one with skin in the game. Mad props to people who do it though.
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4 sats \ 4 replies \ @pleb349 12 Jul 2022 freebie
Investors are not your friends, no matter what they tell you. Their advice and encouragement come at a steep price. You now work for them.
Come on, man. You are very close to having a business that will run itself, while you are sitting on a beach drinking Margaritas. Self-sovereignty!
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358 sats \ 3 replies \ @k00b OP 12 Jul 2022
I disagree. Friends/partners/whatever. It's humans helping humans. Even if they're only helping for returns, they're helping me do something I can't do on my own and I want them to get returns. Something that I hope benefits us all.
I'm done building things alone.
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0 sats \ 2 replies \ @pleb349 12 Jul 2022
I sure hope you are right. My experience is that outside investors bring with them a whole new level of stress. If what you want are collaborators, how about bringing in a technical partner? Someone who will actually work side by side with you, every day. Give them some ownership instead of a VC.
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134 sats \ 0 replies \ @jp 12 Jul 2022
Have you ever worked directly with investors? Perhaps you got a bad experience.
A lot of investors are very helpful and provide great mentorship. Interests are generally aligned and allow early platforms (which challenge incumbents) to survive
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31 sats \ 0 replies \ @k00b OP 12 Jul 2022
I'll have both investors and collaborators. It's not black and white, and imo shouldn't be for me/sn.
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126 sats \ 0 replies \ @KingZing 13 Jul 2022
Congrats! let us pour you guys some sats too
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215 sats \ 1 reply \ @jeff 12 Jul 2022
Too cool! Amazing! Congrats to you, @k00b! Transparency here is also fun.
Seeing this, is making it harder and harder to resist the temptation for me to attempt something similar. I guess that makes you an inspiration!
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100 sats \ 0 replies \ @k00b OP 12 Jul 2022
Thanks.
I hope I do convince you to start something. We need more people building stuff, especially those with good intentions.
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116 sats \ 0 replies \ @andyleroy 12 Jul 2022
Congratulations! And thanks for being so transparent about everything along the way
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114 sats \ 0 replies \ @longhorn 13 Jul 2022
Congrats! Super excited to see it continue to grow 🥳
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109 sats \ 0 replies \ @faithandcredit 12 Jul 2022
congrats!
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108 sats \ 0 replies \ @0xtr 12 Jul 2022
Congrats to everyone working on SN!
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108 sats \ 0 replies \ @kr 12 Jul 2022
⚡️
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107 sats \ 0 replies \ @ab 12 Jul 2022
Awesome news! Really looking forward to seeing stacker news grow and evolve over the next couple of years.
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107 sats \ 0 replies \ @ThrillerX_ 12 Jul 2022
⚡️awesome sn lives for at least another 2 years
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107 sats \ 0 replies \ @2big2fail 12 Jul 2022
very very nice! crack one open for us 🍻
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107 sats \ 0 replies \ @bitcoingraffiti 12 Jul 2022
Congrats. Great work. Looking forward to the future of this platform!
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107 sats \ 0 replies \ @shyfire 12 Jul 2022
Nice, welcome to the new shareholders 😂
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107 sats \ 0 replies \ @kim 12 Jul 2022 freebie
Absolutely love it.
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107 sats \ 0 replies \ @derekross 13 Jul 2022
Congrats man. You're building a hell of a product. I can't get wait to see what you do with these funds.
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106 sats \ 0 replies \ @cameri 12 Jul 2022
Congratulations!!!
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106 sats \ 0 replies \ @And1 12 Jul 2022
Wow🤯 Congratulations!
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106 sats \ 0 replies \ @Majjin 12 Jul 2022
Congratulations! You're doing great with this project!
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106 sats \ 0 replies \ @Satoshonalro 12 Jul 2022 freebie
Congratulations! 👏
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105 sats \ 0 replies \ @Cornleone 13 Jul 2022
❤️❤️❤️❤️
I want to see this site flourish!
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105 sats \ 0 replies \ @peternguyen777 13 Jul 2022
congrats @k00b, really well deserved.
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105 sats \ 0 replies \ @michael 13 Jul 2022
This is some serious proof of work. Great job, Keyan!
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105 sats \ 0 replies \ @a 12 Jul 2022
Congrats! Big news. Excited to see where this project goes. Keep it focused and simple... and position yourself well to ride the next hype cycle! Circa 2024.
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105 sats \ 2 replies \ @nokey 13 Jul 2022 freebie
Congrats. And this seems like a really high post, doesn’t it?
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0 sats \ 1 reply \ @k00b OP 13 Jul 2022
What do you mean by high?
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100 sats \ 0 replies \ @nokey 13 Jul 2022 freebie
I am more familiar with $2M raises for $10M post-money but these were different times and different industries
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126 sats \ 1 reply \ @moneyball 13 Jul 2022 freebie
Looking forward to this https://twitter.com/moneyball/status/1540084972043743232
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1 sat \ 0 replies \ @k00b OP 13 Jul 2022
What are you going to sell? 😉
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104 sats \ 0 replies \ @holzapfelbaum 13 Jul 2022
Huge congrats @k00b!
Well-deserved, and this will be a great stepping-stone in your and SN's journey.
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104 sats \ 0 replies \ @FatBear 13 Jul 2022
Congratulations @k00b ! Well deserved
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110 sats \ 5 replies \ @SatSqueezer 12 Jul 2022 freebie
Congrats! How did you arrive at that valuation? Was there any pushback from investors on it?
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100 sats \ 4 replies \ @ab 12 Jul 2022 freebie
+1 on this, curious on the methodology for coming up with that number as well as how much of the company you sell to investors.
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52 sats \ 3 replies \ @k00b OP 12 Jul 2022
It’s median of seed stage according to angel’s list. I did get pushback. I wanted a 30m valuation.
I sell as much as I need to to get to the next stage of growth with a little padding. Put another way, I raise as much as I think I need without being super optimistic on growth.
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2376 sats \ 2 replies \ @k00b OP 12 Jul 2022
I should note that I have no idea what I'm doing. This is just what I decided to do. This is my thinking, not facts, and it might be terribly misguided.
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100 sats \ 0 replies \ @ab 3 Aug 2022
Thanks for the info! That is the best way to learn, just get out there and do it. I love the way you are going about this, the transparency is amazing and I think is the way a lot of startups will be operating in future.
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100 sats \ 0 replies \ @uco 13 Jul 2022
That's why you're going to be super successful @koob! Humility, curiosity and honesty are rare traits but necessary for a founder. Wishing you much success!
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100 sats \ 0 replies \ @frostdragon 22 Jul 2022
Love the slides, so perfectly straightforward, makes me excited to be here.
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100 sats \ 0 replies \ @nkmg1c_ventures 17 Jul 2022
Wow, way to go
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100 sats \ 0 replies \ @kc_hodl 16 Jul 2022
Congrats Keyan! Well deserved!
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100 sats \ 0 replies \ @phaedrus 15 Jul 2022
Congrats!
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100 sats \ 2 replies \ @selfish_gene 14 Jul 2022
круто! давай приложение на *. apk
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0 sats \ 1 reply \ @selfish_gene 14 Jul 2022
давай обгон м твитер за 99 дней! мы сможем это сделать!
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0 sats \ 0 replies \ @k00b OP 14 Jul 2022
Вау, как амбициозно
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100 sats \ 0 replies \ @ncryppt 14 Jul 2022
huge, congrats K00b!
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100 sats \ 0 replies \ @jerry 14 Jul 2022
woot! Congratulations!
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100 sats \ 0 replies \ @relc 13 Jul 2022
congrats on the deals
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100 sats \ 0 replies \ @softglitter2d 13 Jul 2022
Outstanding news ser,
I made a short spanish-thread of this telling everyone to come and publish here.
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100 sats \ 0 replies \ @e 13 Jul 2022
congrats @k00b, awesome project. well deserved! upwards and onwards! 🚀
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100 sats \ 0 replies \ @based 13 Jul 2022
It will be very interesting to see how this develops with subs.
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100 sats \ 0 replies \ @kilianbuhn 13 Jul 2022
Awesome!
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100 sats \ 0 replies \ @vijo 13 Jul 2022
That's so awesome!
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100 sats \ 0 replies \ @tomlaies 13 Jul 2022
Valuation was 25m post-money (which I like to reveal because I'm usually curious when other companies announce their raises).
Wow, that's a lotta value. 1282 Bitcoin!
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100 sats \ 0 replies \ @TheBTCManual 13 Jul 2022
That's awsome and great backing with NYDIG, wishing you and your growing team all the best :) and look forward to seeing SN grow to new heights
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100 sats \ 1 reply \ @jp 12 Jul 2022
Congrats! This was a prices round at seed stage? I suppose you raise an equity round then and weren't using a convertible note?
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0 sats \ 0 replies \ @k00b OP 12 Jul 2022
Post-money SAFE this round if that’s what you’re asking
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100 sats \ 0 replies \ @gmd 12 Jul 2022
Hot damn Ross Stevens was GigaChad in his talks with Saylor...
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100 sats \ 0 replies \ @blocktock 26 Jul 2022 freebie
Congrats k00b & co!
That should be a huge weight off your shoulders - gathering the resources and runway to get this site some serious Stacker traction. Got a bit of free time on my hands for the time being, so will have a look around to see how I can be of help.
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100 sats \ 0 replies \ @linesgone 22 Jul 2022 freebie
Love the transparency of the process. Excited to be here and be apart of your (this) journey.
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100 sats \ 0 replies \ @djs_btc 14 Jul 2022 freebie
Hell yea, congrats @k00b!
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100 sats \ 0 replies \ @BitcoinNewsCom 13 Jul 2022 freebie
Congratulations, we are looking forward to the growth from here! Onwards & Upwards
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100 sats \ 0 replies \ @tech5 13 Jul 2022 freebie
Congratulations! This is a great site.
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100 sats \ 0 replies \ @cryptoquick 13 Jul 2022 freebie
That's so awesome! Congrats, dude! You deserve it, this site is really slick, works well, and has a lot of promise.
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100 sats \ 0 replies \ @025ea255b5 13 Jul 2022 freebie
Really huge, thx a lot !
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100 sats \ 0 replies \ @oli 13 Jul 2022 freebie
Will current Stacker News remain its own thing/community? (fingers crossed)
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100 sats \ 0 replies \ @andrew 13 Jul 2022 freebie
Your pitch deck is awesome. Congrats on your raise!
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10 sats \ 0 replies \ @Undisciplined 12 Jul
This post was featured on This Day in Stacker News.
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21 sats \ 0 replies \ @Coinosphere 14 Jul 2022
Um, so did they pay BTC over lightning?
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0 sats \ 0 replies \ @bitcointerest 15 Oct 2022
Congratulations. I'm glad someone with deep pockets saw the value SN would bring to the space. This is an absolute beast of a platform. Glad I found it.
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0 sats \ 0 replies \ @jack 14 Jul 2022
Congrats!!
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0 sats \ 0 replies \ @Roll 14 Jul 2022
Oahhh. Excellent
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0 sats \ 0 replies \ @ideasourcing 13 Jul 2022
wow you're a millionaire, over 20 BTC woop woop
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0 sats \ 0 replies \ @GRIN 3 Aug 2022 freebie
When (if ever) will the community be able to raise funds/invest for/in you, @k00b?
0 sats \ 0 replies \ @Pillgary 19 Jul 2022 freebie
I've just went through the deck ! A must read !
0 sats \ 0 replies \ @r3drun3 22 Mar
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