It’s a little weird because the main investor in raising money for OfferUp to buy Letgo, is one of the majority owners of Letgo itself. Is this a common thing?

It’s a little weird because the main investor in raising money for OfferUp to buy Letgo, is one of the majority owners of Letgo itself. Is this a common thing? Kind of like a reverse takeover where Letgo just wants the OfferUp name?