The requirement to grow is itself the issue here. Is the 57 million to serve the constituency by making a better company, or is it to figure out a way to grow in order to pay 100x or more to the original investors? And are those the same things, or are they at odds?
I’m all for a company raising money in order to fulfill its purpose. But I’m always concerned when a company takes in so much money that it has to change its purpose — and sacrifice the original value proposition — in order to satisfy successive rounds of investors. The more money Medium takes, the more likely we’ll see ads and other distractions.