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Ah, to clarify: Buffer threw the seed investors under the bus when they inked a deal with the Series A investors. However, kudos to the founders for fixing thi
by sebleon 8y ago
Ah, to clarify: Buffer threw the seed investors under the bus when they inked a deal with the Series A investors.
However, kudos to the founders for fixing this mistake later on. While their intentions at Series A were questionable (raising to pay themselves), they made things right later on, though they did pay the price of a co-founder and CTO departure. Everyone makes mistakes, but true character can be seen when you deal with them.
> Our seed investors had been supporting the company for almost six years, and several were starting to ask when they may get a return
> The Series A class of shares included a protective provision which meant that Buffer was unable to offer liquidity for other shareholders (seed or common) without approval from a majority of the Series A.
- gowld 8y agoSeed investors offered a deal. They weren't spring chickens.