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0 pointseconner9y ago0 comments

These numbers make sense to me. What I wonder though is if Snap goes the way of Twitter and winds up halving in valuation by the lockup period expiration. Is it still $1 million per basis point? Or will ratchets kick in that further dilute employees and drive the value down?

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2 comments · 2 top-level

harryh9y ago

Any unusual financing terms almost always get resolved at the time of exit/ipo.

Also, again, my understanding is that Snap had very clean financing rounds so this isn't a big concern here to begin with.

hkmurakami9y ago

All the preferred shares convert to common at IPO so no.

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