It shows the absurdity of the ICO market quite well that an initial fundraising of ~2M USD is considered to be modest. To be fair, even when I myself read it I thought "well that really isn't much". :)
Money is just flying around in this space.
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well...to launch a social media blockchain with a team of 10 to 15 people, server cost and everything...you would be surprised how fast it can be spent.