4 ms·

My guess is to partially cash out. According to the doc, the two founders each got about 26m cash and 21m equity in Kape, while PIA only had 14m EBITDA per year

My guess is to partially cash out. According to the doc, the two founders each got about 26m cash and 21m equity in Kape, while PIA only had 14m EBITDA per year and 31m debt. So it's certainly a nice cash windfall for the founders.

Tenoke 7y ago
This. It seems to be exactly so the founders could cash out.
jeltz 7y ago
Thanks for looking it up. This was exactly what I thought.