3 ms·
Your timing is wrong here, which breaks your calculations. I read some other articles that said FanDuel got $75 million in 2014 and $275 million in 2015, and th
by hn_throwaway_99 3y ago
Your timing is wrong here, which breaks your calculations. I read some other articles that said FanDuel got $75 million in 2014 and $275 million in 2015, and then they sold in 2018, so not sure where you're getting your "9 years" from.
- quickthrower2 3y agoStill not great ROI.
- zen928 3y agoA moving goalpost isn't a great argument either.
- quickthrower2 3y agoSPY is beta roi, and it probably did worse than that.
- lupire 3y agoI apologize. I misread something as saying the sale was this year. So the return was about 10%/yr, which is decent but not "make me a multi-multimillionaire". I presume everyone working got cash during their tenure, not just unpreferred stock. The claim that the valuation was artificially deflated due to conflict of interest seems stronger than the concern about liquidation preferences. FanDuel's 10x valuation growth from 2015-2020 backs up the charge of deflation. https://www.wsj.com/articles/fanduel-founders-former-employees-sue-over-getting-nothing-in-deal-11582663343 https://www.wsj.com/articles/fanduel-founders-former-employe...