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Are you sure that's not just 3x on their last round? If they had done a lot of prior rounds with cash in that may be covering old money for their LPs. i.e. if t
by jboydyhacker 16y ago
Are you sure that's not just 3x on their last round? If they had done a lot of prior rounds with cash in that may be covering old money for their LPs. i.e. if they had done 5m in their last round, but 10m in two prior rounds--3x is just getting the money they put in back.
- marcamillion 16y agoI haven't seen the term sheets, but according to the article (and the one in Inc.) it seems that they jumped in fresh in the Series E, because Tony's investment firm basically did all the other rounds. If I am not mistaken, Series E was the first round that outsiders joined. I could be mistaken on that though. However, I am reading his book now so if I find out I will be sure to let you know :)