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You have to look at the terms before making that judgement. It seems very unlikely that it's a straight equity deal. You could imagine a preferred offering wit

You have to look at the terms before making that judgement. It seems very unlikely that it's a straight equity deal. You could imagine a preferred offering with a 1x liquidation preference and some modest return, for example. The details really matter here.

jgalt212 11y ago
Yes, that very well may be true, but you do have to consider the fact that they cannot go public, or it would be difficult to do so, at a price below $24B. So whatever "special treatment" late stage investors get, they do make it much hard for themselves to realize a successful IPO exit.