3 ms·
Was curious why no mention was made of their funding rounds' sizes and valuations so I hit the Google. Couldn't find the exact rounds, but they raised over $416
by mattmaroon 3y ago
Was curious why no mention was made of their funding rounds' sizes and valuations so I hit the Google. Couldn't find the exact rounds, but they raised over $416m and sold for $465m. That's a fail, and you wouldn't expect the founders to get much in any case.
If you raised $415k to start a restaurant, ran it for a few years at a loss, then sold it for $465k, you wouldn't expect to pocket anything. Adding a few zeroes and calling it a tech company wouldn't change that.
I don't think the story really necessitates liquidation preferences.