Archer

Archer: $5M on a couch became a $3.7B passenger-drone SPAC

Two founders pitched Lore their flying-car vision on his couch. He put in $5M, helped them hire engineers and raise $50M; two years later a SPAC raised a billion and the company was valued around $3.7B.

“I put $5 in, we helped raise, you know, helped hire the engineering talent. Helped them raise $50 million, and that was 2 years ago. And then they just raised a billion through the SPAC. And so now it's a $4 billion, $3.7 billion market cap or something. And it was really an idea on this couch 2 years ago”