The Spiral Tube Company (SCT) has raised a $2.5 billion Series A round led by Sequoia Capital, which was led by the former CEO of Snapchat, Evan Spiegel.
SCT CEO and cofounder, Dan Venn has a history of backing companies that are taking their products online and turning them into profitable companies.
In addition to Snapchat, SCT also has a large number of products from the likes of Spotify, Slack, and others.
Venn previously led Snapchat’s US business and recently returned to the company after a four-year absence.
Here’s what we know so far about the deal: What is SCT?
The company is a provider of high-speed fiber optic broadband, with a focus on rural areas.
In the past, Sct has partnered with some of the country’s largest cable providers, including Comcast, Charter, Cox, and CenturyLink.
How does it get started?
Spiral Tube is a cable company that has been providing internet service to small towns and cities in the US.
According to its website, the company “provides fiber optic service in areas where fiber-optic broadband is not readily available to consumers.”
The company says it is able to offer “superior internet service in communities with a population under 100,000 and under 200,000.”
The companies largest customers include communities that are between 100,001 and 300,000.
The company has recently been working with Comcast and other cable companies to provide internet to areas in need of internet service.
How big is the deal?
The deal is being led by two brothers, Adam and James Venn, and is led by venture capitalist Jeff Kleiner.
The Venn brothers founded SCT in 2014 after working at Snapchat, where they worked on their original idea of creating a social media service that would enable people to share videos and photos on the internet.
The idea was that you could post content on Snapchat and people would be able to view the content as well.
Snapchat’s product had been launched a year earlier, and it had a few early users.
However, as Snapchat continued to grow, it became apparent that the platform was not scalable enough for businesses to be able operate effectively.
So the brothers decided to move on to something new.
Snapchat, along with Facebook, has also grown into a $1.5 trillion company.
The brothers are hoping to use the money to build a network of companies that would provide internet access to communities across the country.
What will the company be up to?
In the coming months, Sectors team will work on building out its network of local businesses, according to a company blog post.
The first phase of the network will be built with a partnership with Comcast.
This includes working with local businesses that will serve as testbeds for SCT’s fiber optic internet.
This network will provide a platform for Sector to expand its network in the future, and ultimately provide a nationwide network.
It is unclear whether SCT will also be developing its own high-end internet service or simply offering internet to local businesses.
Will this help or hurt the company?
The venture capital investment is significant, but it is important to note that Spiral Tube was founded by a former Snapchat executive, Evan Stasik.
The Kleiner brothers have previously been involved in several companies that have tried to scale internet in the past.
One of the most notable was a failed venture backed by Google that eventually failed due to lack of funding.
A similar situation will occur with Spiral Tube.
While it is possible that SCT could eventually become profitable, the venture capital deal means that the company will need to make some changes to its business model in the coming years.
What do I do if I’m interested in investing in the company or want to learn more?
The SCT team has released a list of questions about the company and how to get in on the deal.
If you have any questions about this deal, please contact the company at [email protected]