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Wednesday, February 10, 2021

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seph

I think their goal is to get acquired by some company that can make use of them at this point.

High Fidelity was on Series D funding 2-3 years ago. Few startups make it to a Series D without having first folded. And a Series E is nigh unheard of, especially hitched to a pivot like returning back to a 3D virtual world.

High Fidelity's already raised 70 million or so dollars against a valuation barely much more than that, and it's probably significantly lower now that it's simplified to an audio API company and has a few failed products behind it.

More than likely Philip is spending through what money is left from earlier funding rounds and what he got from the Linden Lab sale. He probably looked at Vivox's acquisition from Unity, and hopes a company like Epic maybe will divorce from Vivox and choose High Fidelity as a replacement when its good enough, or that Zoom might acquire High Fidelity which is maybe when he's been talking about Zoom so much.

Vivox was the biggest company like this in the world though, heck Linden Lab pays them for Second Life's voice. Vivox is also in Fortnite, PUBG, other huge games and experiences, and even they ended up acquired. To believe High Fidelity, in a much worse financial situation can find a different fate than folding or acquisition is super optimistic.

Good luck to Philip though I'm a huge fan and wish him much success and I hope he can get back to his true aspirations if High Fidelity's current possibly forced pivot isn't it.

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