This isn't surprising to me at all. Investors that previously valued the stock at $19 per share likely have a 1X liquidation preference. The employees' shares s

This isn't surprising to me at all. Investors that previously valued the stock at $19 per share likely have a 1X liquidation preference. The employees' shares sold on the secondary market won't have this liquidation preference. So VCs are paying a 34% premium to basically guarantee a 1X return. Makes total sense.