4 ms·
It's debt but it's pretty clearly meant to convert into equity not be re-paid.
by jalonso510 11y ago
It's debt but it's pretty clearly meant to convert into equity not be re-paid.
- toomuchtodo 11y agoSpotify will never be worth enough for that converted equity to be worth the cost.
- jalonso510 11y agoWell if they ever IPO at all, it sounds like these guys get 20% off the IPO price so have a decent gain built in no matter what Spotify is worth at that time. Assuming the description in the article is correct.