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One down round later and investor preference shares+rights means Tencent, and effectively China, owns. It sounds like revenue (profit) is nowhere near these l
by lmeyerov 5y ago
One down round later and investor preference shares+rights means Tencent, and effectively China, owns. It sounds like revenue (profit) is nowhere near these levels, so long time for that to change.
For all consequential purposes, their huge preference means they already do. You can bet there is strong language where Tencent (China) can veto big decisions, and hold that over the teams head for smaller ones.