Comment by jillesvangurp

I'm not confused about the acquisition but about the investment. What were the investors thinking? This is an open source development tool with (to date), 0$ of revenue and not even the beginnings of a plan for getting such a thing.

The acquisition makes more sense. A few observations:

- no acquisition amount was announced. That indicates some kind of share swap where the investors change shares for one company into another. Presumably the founder now has some shares in Anthropic and a nice salary and vesting structure that will keep him on board for a while.

- The main investor was Kleiner Perkins. They are also an investor in Anthropic. 100M in the last round, apparently.

Everything else is a loosely buzzword compatible thingy for Anthropic's AI coding thingy and some fresh talent for their team. All good. But it's beside the point. This was an investor bailout. They put in quite a bit of money in Bun with exactly 0 remaining chance of that turning into the next unicorn. Whatever flaky plan there once might have been for revenue that caused them to invest, clearly wasn't happening. So, they liquidated their investment through an acquihire via one of their other investments.

Kind of shocking how easy it was to raise that kind of money with essentially no plan whatsoever for revenue. Where I live (Berlin), you get laughed away by investors (in a quite smug way typically) unless you have a solid plan for making them money. This wouldn't survive initial contact with due diligence. Apparently money still grows on trees in Silicon Valley.

I like Bun and have used it but from where I'm sitting there was no unicorn lurking there, ever.