Another way to value these Unicorns is to look at common stock sold on the secondary markets which has no preference attached. Based on the deal flow I see, I

Another way to value these Unicorns is to look at common stock sold on the secondary markets which has no preference attached. Based on the deal flow I see, I am guessing Pinterest could sell hundreds of millions of dollars worth of common at 8 or 9 billion in valuation. I think a new preferred round would be in the low teens billions for them. So some discount but not a huge one.