Source
ChefJoe98136West Seattle•

The company also placed first again in the NFL’s recent helmet safety test, though the top three helmets had no statistical difference in performance. Vicis competes with longtime helmet makers such as Riddell and Schutt.

Vicis is trying to raise more money at a $5 million valuation — down from a $90 million valuation last year — according to a letter to investors cited by The New York Times, which noted that the company expects to lose $26 million this year.

How much are they paying those high-profile board members? That's a pretty intense burn rate.

22
ComplexNumbers•

Cannot fix this, will loose 26 million this year on something worth 5 mil. Just bankrupt the company, take the learnings and build a profitable company.

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AncientMight•

maybe if the people at the top of this company stopped jacking each other off with $100 bills they wouldnt be in this position

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PetuniaFlowers•

ANyone have any insight into how much of this falls under "I guess we can put a price on the lifelong impacts of sports concussions, and it is too dear (sorry kids! parents shoulda chose swimming as your sport)" vs. "lack of faith that investment in this company is wisely spent money, e.g. mismanaged or simply not aggressive enough growth for a VC"

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shakkyz•

Look at the top comment. If they're #1, but testing no different than #2 and #3, how much impact would it actually have on preventing concussions and what not?

Edit: it also looks like the NFL has given them grants to help out. So, yeah, I think it falls back to the fact that they're not statistically different than the competitor's helmets.

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[deleted]•

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laniganistan•

Seems like a worthy cause for Paul Allen’s estate to invest in. I thought that was one of the reasons he started the Allen Institute for Brain Science.

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_PickleMan_•

Can a league owner get involved in a company that sells equipment to the league?

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laniganistan•

Ooohhh good question. I didn’t think of that.

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