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Battle over Startup Toptal Leaves Early Investor with No Equity $2.6M Legal Bill
- helsinkiandrew 3y agohttps://archive.ph/oiWLx https://archive.ph/oiWLx
- helsinkiandrew 3y agoFrom an investors viewpoint Toptal is in that zone between failing outright and being successful enough to have a successful exit. Matt Levine's newsletter stated it well this morning: > “the company does well, it brings in tons of money, that money funds all of its business needs and also its founder’s lifestyle, it never needs to raise equity again, and, given the choice of keeping a $1 million convertible bond outstanding or converting it into $100 million of equity, it takes the cheaper choice.”