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The way I read it is that they already have one minority investor, Battery Ventures and they are now adding another, PSG. PSG will get a seat on the board of di
by mrweasel 4y ago
The way I read it is that they already have one minority investor, Battery Ventures and they are now adding another, PSG. PSG will get a seat on the board of directors, it's unclear if Battery Ventures have a seat. It is also unclear if the two minority investors combined holds a majority.
I hope things goes well for Bitwarden, but I'm also expecting an amazing journey in their future. I really doubt that there's enough money to be made as is to yield an acceptable return on investments for the $100M, plus whatever Battery Ventures have already put forward.
- scarface74 4y ago(I’m outside of the edit window) When I ask “how can you trust the company”, I don’t mean to imply that the founders have less than good intentions. But once you take VC money, the founders intentions don’t mean much. I’m sure the founders of both Instagram and WhatsApp - just two companies that come to mind where the founders were idealistic and they were hit hard with the reality stick once they got acquired - really believed that their company wouldn’t change for the worse once they were acquired.
- scarface74 4y agoI doubt the company will just disappear. They will probably get acquired. But what it morphs into is probably not something consumers who like it now will want. The only company that I can think of that has managed the transition well and gone public is BackBlaze.