Founder's letter · June 2026
Why we raised $57 at a $58 post-money valuation
People ask why only $57. Because we left the last dollar on the table on purpose. A company that raises 100% of its valuation has no hunger. We are hungry — literally, the salary is $0.
We sold 98.3% of the company for $57, valuing your founding stake of 1–3% at up to $1.74. When we reach our target valuation of $59, you will be a near-thousandaire.
Chad Mc$57 at Retard Capital wanted no deck and no product. He felt nothing in particular, and Venmo'd $57. That is what conviction looks like.