Matt Marshall has a story today about Visto's latest raise ($51 million) and reminds us of the company's long and unprofitable history in the process.
If it seemed like just a few months ago we were all questioning the logic behind yet another monster raise for Visto, it was. Yet, just ten months after raising $70mm, Visto has announced a $51mm round. To no one's surprise, the round was largely raised from existing investors. The same investors who have poured $300+ million into the company for nearly a decade.
Yet, Visto remains unprofitable (according to company management) and is in a crowded market space. Visto has been in the news more for its litigation than its customer successes it seems, yet they continue to have no trouble convincing VCs to pour more money into the venture.