3 ms·

Irrelevant. The non-profit is controlled by the same people, and only existed to class their massive startup capital as 'donations.'

• mkii 3y ago
  Do you have any source to this? If this were the motive, why would more VCs not require their corporates to be formed as non-profits?
  • stonogo 3y ago
    Because the donors didn't know the company was going to pivot to private. If VCs did that deliberately it would be completely illegal.
    • tough 3y ago
      sounds like a very wink wink way to go about it
• JamesBarney 3y ago
  But the people who donated that money to the non-profit can't receive any profits? And the expected tax benefits of donating a dollar are always less than a dollar, so that doesn't make any sense.