An intern fired by ByteDance in 2024 and ordered to pay 500,000 yuan has raised nearly $30 million.
No name, no product, a 10-person team, and a post-money valuation of $200 million.
The funding math: amount raised ÷ valuation = equity given up. $30 million ÷ $200 million ≈ 15%.
They’re investing in a paper, not a product. Would you invest?
No name, no product, a 10-person team, and a post-money valuation of $200 million.
The funding math: amount raised ÷ valuation = equity given up. $30 million ÷ $200 million ≈ 15%.
They’re investing in a paper, not a product. Would you invest?