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Amazon raised $1 million in seed funding in 1995 from 22 angel investors at a $5 million valuation, despite Bezos warning of 70% loss risk.
In 1995, Jeff Bezos raised Amazon's first $1 million in seed capital from approximately 22 angel investors, each contributing around $50,000. Bezos was transparent about the risks, telling potential investors there was a 70% chance they would lose their money. He conducted about 60 meetings to secure the funding, with roughly 40 investors declining the opportunity. The round valued Amazon at $5 million, with investors receiving 20% equity in the unproven online bookstore.
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Company
Amazon
Location
Seattle, Washington, United States
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In a statement, an Amazon spokesperson told TechCrunch that the loan adds to the range of financing options the company has tapped in recent months to hedge against the “uncertain macroeconomic environment.”“Like all companies we regularly evaluate our operating plan and make financing decisions — like entering into term loan agreements or issuing bonds — accordingly,” the spokesperson said via email. Provided by DBS Bank, Mizuho Bank and others, the loan — which will mature in 364 days (January 3, 2024), with an option to extend for another 364 days — be used for “general corporate purposes,” Amazon said in a filing with the U.S. Securities and Exchange Commission. Amazon had about $35 billion in cash and cash equivalents and long-term debt of about $59 billion at the end of the third quarter ended September 30, Reuters reports.
Fundz sees it the moment Amazon raises, hires an exec or expands, usually minutes after it happens, and tells you who to reach.
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