So they burnt through $10.7M within 1.5 years? $600k/month? I wonder what they have left. I'm curious about the ramifications after this sort of thing transpires.
A local startup raised over $300k after stealing my work and trying to pass it off as their own but they had no idea how to execute on it after they raised. They're now grasping at how to find product-market fit and they've pivoted thrice because they can't pull-off what they ripped-off. We've found companies in Europe that came up with the same idea because the verticals we work in are more evolved there. Seeing others conjuring similar ideas validates that we're on the right track in a new market ripe with opportunity.
http://venturebeat.com/2011/04/12/online-game-startup-tiny-s...