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The founders and early execs of Living Social did very well! All of them walked away with millions.
by mistralx01 11y ago
The founders and early execs of Living Social did very well! All of them walked away with millions.
- ChuckMcM 11y agoCurious if you know that or just think that? They did 10 rounds of funding according to CrunchBase and at first glance I did not see any where the founders took money off the table for themselves.
- mistralx01 11y agoLook through AngeLlist and few other places on the interwebs. Do some sleuthing....
- jacquesm 11y agoYou're the person making the claim, that means you already know where the evidence is, and assuming that is true a polite request for sharing that evidence should not be answered with 'do your own homework' on the off-chance that you don't actually have such evidence. So, if you have any evidence it would be much appreciated if you produced it. As a rule, especially with deals like these the founders do not get to take money off the table until the company has achieved certain benchmarks so I'm as curious as the GGP is.
- ChuckMcM 11y agoI don't think they really know. The list of all LivingSocial filings is here: http://www.sec.gov/cgi-bin/browse-edgar?company=LivingSocial&owner=exclude&action=getcompany http://www.sec.gov/cgi-bin/browse-edgar?company=LivingSocial... and the $400M raise filing is here: http://www.sec.gov/Archives/edgar/data/1439606/000143960611000002/xslFormDX01/primary_doc.xml http://www.sec.gov/Archives/edgar/data/1439606/0001439606110... which includes a note that $200M went to "others". But nobody seems to know definitively if those "others" included the founders or if it was just earlier investors cashing out. Given that the egregious cash out by GroupOn's founders had recently occurred I would be surprised if LivingSocial's investors would agree to paying off the founders but stranger things could happen.