Fast

About Fast

Fast, a one click checkout startup, shut down in April 2022 after burning through 120 million. The startup raised 120 million from Stripe, Index Ventures, and other investors. CEO Domm Holland was criticized for lavish spending, including expensive dinners and events. Revenue was reportedly minimal, estimated at 600,000 annually. Stripe led the 102 million Series B in 2021. Fast burned 10 million per month at peak. The company employed 430 people who were all laid off. The Fast case illustrates how easy money in the 2021 venture market enabled startups with minimal revenue to raise enormous sums. When the venture market tightened in 2022, companies without sustainable business models collapsed quickly.