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Just because the company was sold for a bunch of money doesn't mean the people (yes even the founders) got a huge payout. Liquidation preference and other schem
by samiv 2y ago
Just because the company was sold for a bunch of money doesn't mean the people (yes even the founders) got a huge payout. Liquidation preference and other schemes can make sure that when the investors get their money there's nothing to left to share between other share holders including the founders.
(Not saying that this is the case here, just pointing that out)
EDIT: As some are already pointing out, yes the title says "bootstrapped". I missed that initially, so apologies.
- Klonoar 2y agoThis particular OP notes they were bootstrapped. That term might mean any number of things here, but I would imagine they had less exposure to losing out. Or at least, I hope they did. What a fantastic win for them.
- fourseventy 2y agoThe title of this post literally says "bootstrapped"
- robryan 2y agoTo note as well the Techcrunch article specifically says 71% ownership.