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"I have come to bury Travis, not praise him." Last time I checked, Benchmark has one board seat? A bit bizarre for them to assert themselves (note the plural)
by etr71115 9y ago
"I have come to bury Travis, not praise him."
Last time I checked, Benchmark has one board seat? A bit bizarre for them to assert themselves (note the plural) as a benevolent agent for employees. I know 'corporations are people too', but how are employees supposed to respond to this letter? They're not. This is a PR release. Good thing "this isn’t about Benchmark versus Travis."
The CFO inclusion screams IPO, which, consequently, is all this comes down to: money. Benchmark wants to cash out.
Entrepreneurs will still work with Benchmark. Yes, they'll push you out a la Twitter and Uber style, but, at the very least, you'll be a billionaire by the time they do.
- frandroid 9y agoThe pro-Travis side of the board is trying to get Benchmark to sell its shares to them. It seems that they have a good cash-out option in front of them that doesn't not require an IPO!
- fosk 9y agoYes, at a 30% discount. Seems like Benchmark is pursuing other options to avoid selling at a lower price (although with a huge return on their investment regardless).