4 ms·
Point of order... It wasn't a series E, it was $120 million in purchases on the secondary market http://techcrunch.com/2010/06/28/elevation-invests-another-120
by brm 16y ago
Point of order... It wasn't a series E, it was $120 million in purchases on the secondary market
http://techcrunch.com/2010/06/28/elevation-invests-another-120-million-in-facebook-as-that-ipo-looks-more-distant/ http://techcrunch.com/2010/06/28/elevation-invests-another-1...
- vessenes 16y agoThis is an extremely important point, germane to the conversation.. The $120mm was not a funding round -- it was liquidity for founders. Huge difference, and it invalidates much of dhh's original analysis.
- deleted 16y ago[deleted]
- mapgrep 16y agoDoes it? DHH seemed to be saying that if Facebook had profits and cash flow they wouldn't need outside sources to provide liquidity. So the important part as far as DHH's point is that Facebook needed cash - whether the "liquidity" came with or without dilution, the point is Facebook needed it.