Ask HN: What do startups do with millions of funding?

Almost every day I read a post on Techcrunch saying 'X has raised $Y million from...' - almost all of these are primarily online businesses/services, do they really need all that money?

If you were to give a rough breakdown of what they spend it on, what would it be?

This is something that I've always wondered, so if you can shed any light on this that would be great, thanks