The game-show app discovered Tuesday that it’s got elevated the cash in a $100 million valuation inside a round led by Founders Fund – the Silicon Valley enterprise business run by Peter Thiel – also as longtime backer Lightspeed Venture Partners.
HQ, which debuted in late August with only a few hundred players along with a jackpot of $100, now on a regular basis sees more than 1.five million contestants tune in two times on a daily basis for jackpots that have reached as high as $50,000.
The application reportedly hit a fundraising roadblock, having said that, when information of co-founder Colin Kroll’s previous came to light. Kroll was fired by Twitter in early 2014 for being a “bad manager” once the business acquired his startup Vine, Recode documented in December, citing resources.
When at Vine, Kroll experienced a status for “creepy” and “inappropriate” habits toward women of all ages, which produced a stumbling block for HQ’s fundraising initiatives, Recode claimed.
Kroll has denied the allegations.
Founders Fund partner Cyan Banister, nevertheless, informed Axios that she was at ease funding Kroll’s firm soon after “looking at everything,” and said that she believes “in the spirit of forgiveness.”
The brand new funding will go in the direction of growing out the app’s engineering workforce, HQ explained to Axios. The game is notoriously laggy due to the big range of customers who tune in to play.
The app does not at this time generate revenue, and cash its prizes with its funds reserves. The ultimate program is for HQ Trivia to eventually bring aboard sponsors in the way that feels organic and natural into the application.
CEO Rus Yusupov instructed The Write-up in November that he’d wish to see HQ at some point give a $1 million dollars prize.
“We’ve established a new group here,” Yusupov claimed. “For us, it is about building the absolute best game. These live synchronous ordeals – we would like to generate the game as big as we are able to.”
The twice-daily are living trivia game – at three p.m. and 9 p.m. ET everyday and nine p.m. ET on weekends – is really a mash-up of the multiple-choice Q&A of “Who Wants to be a Millionaire” and the multi-player competitiveness of “Jeopardy.”
The questions, dished out by host comedian Scott Rogowsky, range from embarrassingly easy to completely bedeviling.
“It’s all the winning elements on the TV world,” Yusupov told The Post in an interview last week. “We have an energetic, funny host. There’s music, there’s jokes. The questions are really interesting. It’s scheduled programming at the same time every day.”
The game consists of 12 multiple-choice questions, each of which must be answered within 10 seconds – long enough to ponder but fast enough to keep things moving and keep folks from Googling the answer.