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http://www.forbes.com/sites/alexkonrad/2015/03/25/how-venture-cowboy-chris-sacca-made-billions/#79a27d26fa8c http://www.forbes.com/sites/alexkonrad/2015/03/25/h

http://www.forbes.com/sites/alexkonrad/2015/03/25/how-venture-cowboy-chris-sacca-made-billions/#79a27d26fa8c http://www.forbes.com/sites/alexkonrad/2015/03/25/how-ventur... "the Uber CEO got upset with Sacca for trying to repeat his Twitter move of buying up secondary shares in Uber from other initial investors."

mikeyouse 10y ago
Ah good eye, thanks, hadn't heard anything at all about that.
eru 10y ago
I wonder why management would want to keep anyone from bidding up the share price?
- supster 10y ago
  It starts to create a secondary market for the shares, which means over time a price gets set. So the next time they try to raise money, this price becomes an anchor point rather than whatever arbitrary price Uber tries to set based on perceived supply & demand.
  - eru 10y ago
    Yeah, probably. Even though at first the secondary market props up the price, it is indeed a price.