I'm pretty sure the founders got extremely diluted after their two most recent rounds. Unfortunately start-ups in emergent markets have very little leverage to

I'm pretty sure the founders got extremely diluted after their two most recent rounds. Unfortunately start-ups in emergent markets have very little leverage to negotiate reasonable terms, especially when there are just a few institutional investors willing to bet on these markets. Also since these businesses require so much capital and have burn rates that grow exponentially there's little room for negotiation. Unless you want to wait and see how Uber eats your lunch.