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Otto did not raise any rounds. Having external stakeholders would've made their shady deal even harder to pull.
by jeeyoungk 9y ago
Otto did not raise any rounds. Having external stakeholders would've made their shady deal even harder to pull.
- jgalt212 9y agoIndeed, it would not have passed even a cursory due diligence.
- hkmurakami 9y agoah in which case... he likely did put in personal capital until the uber deal went through (it closed very quickly after the company's founding, like 12~16 months iirc?)
- tyingq 9y agoI don't know that the Uber buyout of Otto recouped that loss for him. It may have been an all-stock deal, and he had to forfeit his $250M portion: https://www.bloomberg.com/news/articles/2017-05-31/fired-uber-executive-said-to-forfeit-250-million-stock-grant https://www.bloomberg.com/news/articles/2017-05-31/fired-ube...