I was recently at a festival in downtown Athens, GA. The college messaging site YikYak (raised $70m+) had 2 full size buses and a motorized bull to ride. They had 20+ reps handing out all kinds of free stuff.
There couldn't have been more than a few thousand attendees at this event.
To me this is exactly what Fred is talking about. A company so overfunded they can spend money on marketing efforts that don't really make sense...
FYI, I looked them up and YikYak is local to Atlanta, so that might have something to do with their large presence. Your point still stands, though—the two busses and the motorized bull...
I'm really not trying to bash YikYak, I have a lot of respect for them actually. My point is maybe they are so well funded it's clouding their judgement. I have to think there are more effective growth channels.
There couldn't have been more than a few thousand attendees at this event.
To me this is exactly what Fred is talking about. A company so overfunded they can spend money on marketing efforts that don't really make sense...