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This undoubtedly has to do with the $2 billion haircut that Square's late-stage investors are taking on its IPO. But it's really Fidelity's fault. If you offe
by downandout 11y ago
This undoubtedly has to do with the $2 billion haircut that Square's late-stage investors are taking on its IPO. But it's really Fidelity's fault. If you offer money at ridiculous valuations, guess what? People are going to take you up on it, and you're going to lose money.
- Eridrus 11y agoSquare's late stage investors had a ratchet, so they're not actually taking any haircut at all; they're getting a 20% return in a year.