3 ms·

I think it's just a way to allow early investors and employee stock holders to exit.

• Animats 9y ago
  Right. They don't need to raise money.
  • charlesdm 9y ago
    They don't? Didn't they just quite recently raise a bunch of debt finance? Maybe their idea is to borrow more with interest rates being so low, rather than diluting the equity holders.
  • adventured 9y ago
    They're absolutely going to need to raise money, soon. They've lost $822 million in the last two years, with their losses skyrocketing last year to $581 million. At least $400m to $500m of their prior VC from years ago (2008-2013) is guaranteed to be long gone at this point. They're down to less than 12 months of capital unless they've suddenly figured out how to make money in the last few months with a blackhole business model that can never produce meaningful profit because they don't own most of the content and the licensing will perpetually squeeze them to death.