They were funded. Some team members took some of the funding and the remaining team members have the rest of the btc that was raised. I just dont know why they dont use the BTC for the development and for the advertising.
Personally I dont know why VC overlooked Halo. I've had working smart contracts for over a year. Its funny because they would reach out to me and call all the time and talk about how they can cut big checks and then they would just disappear. (Did they expect me to chase them? I'm busy actually working instead of kowtowing to VC)
BitBay did raise funds, but i didnt see much of it(only about 200 btc) because it wasn't my project to begin with(although they slapped my name on it to raise funds even when I asked them not to). Out of the 5 people involved, 4 are gone and took their share of the ico(200 each) which didnt even raise what they said it did except for the 500 extra that Bob kept which he got under the table from BTER.
Personally they did nothing to earn the funds, and they should have contributed towards advertising and dev. They all promised to give back to dev and didnt. It shocks me that out of 4 people nobody had the decency to honor their word.
Although I have personally given back some to dev but have been unsuccessful in finding a dev capable of understanding the Halo source code. Its just too complex. So my attempt at hiring was a waste of BTC. So instead i do 100% of the dev work which is fine it just sort of sucks. In some ways it work faster this way.
As for VCs, well I think they are stupid for not investing. And now I personally don't want VC because I've talked to my colleagues about it and we think it will be a "Golden Cage" where they will force me to make money back for them and I could be stuck doing this for years and it will limit the things I can do to contribute. But I'm still open to discussion on it.
Also, how you said "its for businesses with business plans and teams". Halo does have a team, its just small. I've got a few people who volunteer on marketing and web and pr. I also wrote a 30 page business prospectus and executive summary and if you notice there is almost 30 pages of documentation that comes with the software.
The VCs that I did speak to were too intimidated by the software because it "is too useful/functional/too many features" and apparently they need a product that has only one feature because they are stupid and cant wrap their minds around products that actually exist. I guess they havent heard of "Adobe Photoshop" before.
Its easier to sell vaporware aparrently and Ive never been the kind of guy to look for handouts.
