Also, Stripe's "$1.75 billion" valuation is misleading because the round was for preferred shares, which have privileges (and lower risk than common stock). We

Also, Stripe's "$1.75 billion" valuation is misleading because the round was for preferred shares, which have privileges (and lower risk than common stock). We saw something similar for AirBnb, which Marc Andreessen pointed out in a series of tweets: https://twitter.com/pmarca/status/457017580385873921 https://twitter.com/pmarca/status/457017580385873921 Square's valuation was based on common stock.