SV Bank failure - Tripactions / Navan credit facility
The SV bank failure is of epic proportions and tripactions / navan taking out a credit facility from them recently speaks to how this company will also fail with horrible financial mistakes. Expect an enormous impact to Tripactions/Navan in the coming weeks if not days. #tech #navan #tripactions
Basically every company in the valley has a credit facility with SVB. Why are you singling out Navan? Their whole operating niche was they knew how to work tech companies when big Main Street banks didn’t.
Op is talking about a different facility than a typical credit line. Google TripActions fundraising news and you will see something called as a warehouse facility. In simpler words, SVB and GS gave us recurring loan on a daily basis to operate business.
I don’t understand how it is bad for you if you borrowed money from a bank that goes under. It would be bad if you LENT money to a bank that goes under
I think so too but here we have more than just that. We borrowed and we still borrow.
Yeah exactly the fact that they lend us money creates 0 issues. OP is typical bitter ex-employee who has no clue what they’re talking about
I see you are the typical Navan manager with no clue how the world works, and instantly jumps to insults. If your credit facility suddenly dries up, and you think you'll have "0 issues" then you deserve what is coming your way.
Yeah 67 is that classic manager. I have seen in internal posts they come out to defend garbage decisions by the company. Too much work they do for loyalty. What's that word for it ?
This is a house of cards. Now if we need additional funding it will expose our actual valuation with the given market which Ariel wants to avoid. ANYBODY WHO STARTED IN THE PAST 1.5 YEARS. YOUR STRIKE PRICE IS NOW HIGHER THAN THE ACTUAL CURRENT VALUATION ONCE THIS IS EXPOSED.
Who knows we could be fine. I have mixed feelings. I hope we secure another credit line soon.
Statement from Navan on SVB doesn't put me much at ease. It is mostly about how to make sure you keep giving us the money you owe us: https://twitter.com/navan/status/1634627799238742017/photo/1
The new name speaks for itself in terms of horrible decisions