3 ms·
I 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".
by lupire 3y ago
I 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...