We’re pretty excited about this!
Neat! I hope you guys didn’t give away too many percent of the company and you keep cool.
I hope getting the manufacturing in-house will get the weekly price lower. Is that the main reason for taking investors? Why not wait until you have enough cash built up from sales before you make that move? I don’t know how much you can/want to share here.
I can’t wait to read the 1.0 ingredient list. Upwards and onwards, Soylent!
Oh geez the article mis-attributed the name origin to Soylent Green and the comments section is going nuts about “terrible name!” again …
Because of Soylent, more people will know what the word “dystopian” means. Really though, the buzz about the name can only help publicity.
True, true, and I know at there was at least some intent to have a strange name from the outset. It’s just a little funny how tens or hundreds of people keep making the same “it’s people” comment every time one of these articles comes out, and each comment is written as though they’re the first to notice it, haha
Hmm, does this mean they’re going to switch from using a copacker and just doing it all themselves in LA? Hope this doesn’t delay things further. Looking forward to Julio’s update.
Congrats on the raise. The VCs will tell you need a grey haired CFO and exponential growth to get to an IPO ASAP. Just focus on making good products and keeping your customers happy. Soylent’s success on a commodity food mix will be very hard to “defend” so hopefully you can focus on other ways to simplify people’s lives.
And the post was posted !
[quote=“darcdragon, post:11, topic:8134”]http://blog.soylent.me/post/64789154918/soylent-funding-announcement
This. This is the blog post to link someone to when describing Soylent. Or a quote of the second half, at the least. It’s pretty much the core concepts I always try to explain when introducing the idea to someone, posted by the creators, in a concise two or three paragraphs. It looks like (and I’m sure to some degree is) it’s been taken from from an existing market pitch – and an effective/positive one at that.
In fact, I think some incarnation of those paragraphs would be really useful thing to have up near the top of the main site, either replacing or leading in to the current product introduction. So, I think I’ll tag @JulioMiles on this post, and perhaps the team may consider it
@JulioMiles Will this change any plans around open sourcing the soylent formula? Usually when you get a large cash infusion like this it comes at the cost of a sizable portion of ownership. Are your VC investors on-board with you releasing the full up final version’s full formula?
@JulioMiles Congrats! You had the crowd, then came the investors.
But @Daiceman is correct: will the formula still be open? Don’t forget, the amazing way you’ve included the community in your thought and development process is key to your success. Don’t let us down now.
@JulioMiles - I concur with @Daiceman and @ruipacheco. Obviously backers don’t have any equity in your company but I think it’s very important to be transparent about any potential negative changes (for backers) resulting from the investment. These investors are targeting a 10x return on their investment which means that Soylent has to place a greater effort on profit and competition which may conflict with the goal of offering low pricing and disclosing ingredients in a matter which is helpful to the soylent community. After all, much of Soylent’s success continues to stem from the goodwill with the backer community and in the end, that goodwill might be the most valuable part of Soylent.
In a world where cynicism against corporations has reached an all-time hight, I think that is a pretty serious understatement.