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So basically what they did was make 2 classes, one had voting rights and the other didn't then 'gave' the non-voting stock to investors? That doesn't seem like
by madamelic 10y ago
So basically what they did was make 2 classes, one had voting rights and the other didn't then 'gave' the non-voting stock to investors?
That doesn't seem like it would fly.
(Sorry, I could probably Google this myself...)
- rmason 10y agoHe also made certain that Zuckerberg got to appoint a majority of the board. Once they had the initial deal with Peter Thiel on future rounds Facebook was such a hot investment they didn't face serious pressure to change things.
- josu 10y ago>That doesn't seem like it would fly. If you are the hottest startup in SV you probably have some leverage in the negotiations.