"first off, the elephant in the room: at our current burn rate and bank balance, we will not make July 15 payroll.
don’t panic, we’re not on the verge of collapse; we’re raising additional funding to help carry us through the year. our most recent funding round has lasted us as long as we expected."
Cohost can't make payroll in 11 days.
I'm not sure if "we're raising additional money" means they did already or just hope to.
If they already did when posting this then phrasing it as can't make payroll would be weird.
If they have since posting that, they haven't shared that info.
If they haven't...then they have 11 days.
If anything a large influx of new users from the last few days is a nightmare, unless basically all of them get Plus then they're costing money.
Even if cohost does have funding to the end of the year, they have no path to making up not only $40k of losses every month, but the massive backlog of debt they have to pay back from losing money up to this point.
I don't see how the numbers can add up.
