Repl.it raises $97.4M at $1.16B Valuation

This is another company I have always felt is going to implode one day. They don't do anything that interesting let alone proprietary. The CEO is an ass and everyone knows it, he acts as if in an in-browser repl is going to change the world. I have no idea how their valuation is so lofty but the core tech is easily duplicated since a lot of the heavy lifting they used to do has become obsolete.

Gotta say, while I respect the hell out of repl.it and the product they've built, I simply cannot fathom how they justify a $1.1B valuation for what is at it's core an online coding platform/IDE

In a parallel world, repl.it is a bootstrapped, open source, dev-friendly platform that generating $10-30M ARR in revenue, but in our universe, it's more likely that they'll soon start going the way of once-great tools like Postman, who raised at massive valuations and then had to build out silly "enterprise" features and became much more sales-led companies, all but abandoning their dev-tools roots

I must be really out of touch, because I cannot imagine how this is a billion dollar business.