AI ‘Friend’ Company Spent $1.8 Million and Most of Its Funds on Domain Name
Full article223 words · extracted from 404media.co · click to collapse
Friend, an AI companion company announced today, spent $1.8 million out of a total of $2.5 million it raised to start the company on its domain name, friend.com, according to its founder Avi Schiffmann and a screenshot of the transaction shared with 404 Media.
In response to a question on Twitter from someone who asked him how much he paid for the domain, Schiffmann tweeted $1.8 million, which I assumed was a joke because Fast Company previously reported raised $1.9 million to start the company. TechCrunch reported today that Schiffmann raised $2.5 million at a $50 million valuation. Schiffmann confirmed to 404 Media he raised close to $2.5 million.
“It's real! Premium domains are expensive, but it's worth it,” Schiffman told me in an email after I reached out to ask if it was true. He also provided me with a screenshot of the transaction on Escrow.com, an online escrow service to buy and sell asserts, which shows he paid $1,887,843 for the domain on February 6.
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Text extracted automatically; images, tables and formatting may be missing. Original: https://www.404media.co/ai-friend-company-spent-1-8-million-and-most-its-funds-on-domain-name/