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It's probably tied to fundraising. Execs probably have "key person" clauses and need to negotiate stock or secondaries as part of the deal.
by philip1209 2y ago
It's probably tied to fundraising. Execs probably have "key person" clauses and need to negotiate stock or secondaries as part of the deal.
- cj 2y agoProbably related. Their current fundraising efforts are enormous. Rumor is the minimum check they'll accept is $250 million. Valuation in the $150 billion range. It would be surprising if these exits weren't in some way connected to the fundraising. (And not sure if these exits will be seen as a positive or a negative to would-be investors)
- lumost 2y agoPossible the people writing those checks want more experienced people in those positions, or their own people. Or the execs figure a ~150x growth ride in 6 years is about the best that they can hope for and are ready to bounce. If I were in their shoes I'd look to take out 50-100 MM and decide what I want in life.