Push Party just landed a $200m valuation

by WarriorForum.com Administrator
1 replies
Forbes brings us an incredible-but-true story about how a virtual red button just secured a $200 million valuation. Intrigued? Read on for more details.

This article starts out by saying, "Most of this is real......" - which is telling.

This is about the news that Push Party just got a $200 million valuation. IF you already know about the app, you'll know that's a notable achievement, but if you don't, I'd encourage you to do some research or at least read this piece by Forbes to learn more. The author says they've been assured the valuation is a genuine one, and Trae Stephens from Founder Fund had this to say on the matter:

"Very few times in my career have I seen an idea that grabbed me so fully with its originality and daring that I was simultaneously terrified and obsessed. Many people know MSCHF as the internet's favorite troublemakers -- the name says it all. However, what people might not realize is that MSCHF is a group of unparalleled visionaries with a plan to completely reimagine the social media landscape. I'm thrilled to work alongside the Push Party team in pursuit of this bold goal. We were a bit concerned by the valuation at first, but I told my people to run toward gunfire for anything under $250 million."
This has only been the seed round, and it remains to be seen how high this app goes. What that says about investment practices is up to you, but this sounds a lot like smoke and mirrors to me. The cash isn't real, the app probably doesn't have real users, and even the notifications highlighted on the company's splash page are fakes. Whatever you may think, Push Party is available right now on Apple iOS.
#$200m #landed #party #push #valuation
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  • Profile picture of the author Matthew Stanley
    Stunt fundraising for the win! Incredible. I recall a few years back downloading - and using surprisingly frequently, the app "Yo" - this reminds me a bit of that.

    This TechCrunch article make me wonder how real this round is, though. Seems some of it was a tongue-in-cheek commentary on VCs and fundraising itself. From the article I link to:

    Is any of this real? Well, MSCHF insists that they went through all of the legal steps of incorporating Push Party and raising this round. How much the startup actually raised is perhaps more suspect, it's unclear whether this was a $1 million investment or $1,000, the team wasn't too keen to go into details there, though I did ask someone from MSCHF whether the round was more than $100, and they confirmed that it was indeed more than $100.

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