TBH's $100M Facebook Exit
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A story about how a social app called TBH went from near-bankruptcy to a $100M Facebook acquisition.
"Friend of the pod, Nikita Bier, was an entrepreneur whose company was grinding trying to build social products like the next Twitter or Snapchat for many years. They were getting really smart about it, learning a bunch of stuff, but never hitting the home run.
A few months before they ran out of money, they were either going to wind it up and get jobs or get acquihired somewhere. They threw one last attempt and made this app called TBH. It went viral amongst high schoolers - it was an app for answering questions or polls about your friends.
Facebook bought it for $100 million. But months later, TBH shut down - it was kind of a fad and didn't have legs. Facebook kept most of the talent, but the app itself was discontinued.
It's a perfect example of how these social apps can explode - they either fade away like TBH and Clubhouse, or they become the next Snapchat. They all start out looking the same, they look silly and sound dumb, but you never know which ones will make it."
Shaan Puri
Host of MFM
Shaan Puri is the Chairman and Co-Founder of The Milk Road. He previously worked at Twitch as a Senior Director of Product, Mobile Gaming, and Emerging Markets. He also attended Duke University.