4 ms·
There is nothing I can see which suggests the shares have positive value. The FAQ I linked directly says the opposite. Nothing is suspect here, other than journ
by orionsbelt 1y ago
There is nothing I can see which suggests the shares have positive value. The FAQ I linked directly says the opposite. Nothing is suspect here, other than journalists and internet commentators making assumptions based on misunderstandings.
This happens hundreds if not thousands of times a year at startups that sell for less than the aggregate liquidation preferences.
- lumost 1y agoThe oddity here would be that the employees purchased these shares. If money changed hands, the employee would have a reasonable right to know of the liquidation preferences and their cutoff - correct?
- JumpCrisscross 1y ago> oddity here would be that the employees purchased these shares You’re purchasing shares when you exercise options. The oddity is both that these shares were sold to these employees, versus sort of occurring as a matter of course of employment, and that the company seemed to go out of its way to cancel them versus just declaring them worthless while the entity is wrapped up.