"Failure" is still a fair description. Companies that raise that much money usually don't collapse outright. Instead the investors engineer an exit, partly because it returns some money but mostly because it looks better and solidifies relationships both with founders and acquirers.
sold companies for ~10m net
We don't know the exact numbers for this particular case, but you can be sure people lost money. Raising $30m doesn't mean the company was valued at $30m; it means the company was valued at much more. For example if you took $30m in a typical Series A round you'd be valued at $150m. If you then sold for a third of that...
sold companies for ~10m net
We don't know the exact numbers for this particular case, but you can be sure people lost money. Raising $30m doesn't mean the company was valued at $30m; it means the company was valued at much more. For example if you took $30m in a typical Series A round you'd be valued at $150m. If you then sold for a third of that...