More broadly I've gotta believe that raising $335 million (after many more hundreds of millions previously), and still expecting to need to raise more down the road is just a seriously flawed approach to running a business.
I also believe that it is flawed, but it is the model that most of valley is built on. It's frustrating. I wish more companies would just focus on building value and becoming profitable. VC funding for growth makes sense, but it shouldn't be in lieu of a profitable business model. If we keep funding unprofitable companies with unproven business models capitalism breaks, efficiency is lost, and someone ends up holding a bag - usually the mom and pop investor in the public markets.
