After the flurry of attention and just a few months later, Secret
opted to raise another round of financing, this time seeking $25
million. Bill Maris, managing partner of Google Ventures, did not
think it was a good idea and the company did not participate.
“We advised them against it,” Mr. Maris said in an interview,
referring to Secret’s leaders. “We told them they didn’t need the
money. And raising that much money that soon, it was going to be
impossible to meet the expectations in the future.” […]
The company completed its $25 million financing led by Index
Ventures and Redpoint Ventures, along with a variety of individual
angel investors. In that round, the two founders each wanted to
take $3 million off the table for themselves, a practice that is
commonplace for more mature companies, but less so for very young
“It’s like a bank heist,” Mr. Maris said. “That’s not how you do a
I want to correct and amend a few things. I wanted to let you know
how my views had evolved since we spoke. […] I do want to make
clear that this was not a “bank heist,” and that was a poor choice
of words on my part.
That implies that the founders were trying to line their pockets
at the expense of others. After having a heart to heart with
David, I don’t think that’s true. David rightly pointed out to me
that he and Chrys worked extremely hard. They built something that
captured the imagination of a lot of people and had a huge amount
of users. The tone and content of my comments as printed don’t pay
the appropriate respect to that fact.
I don’t know what motivated him to speak so openly to The Times, but I know which one of his views sounds more honest to me, and it isn’t the “evolved” one.