Massive exit. With about $350M raised, that’s like $5B going to common. Hats off to the entire team. crunchbase.com/organization/p…
This is also a case where a strategic investment paid off for both Visa and Plaid.
Just speculating, but Visa may have had a ringside seat to the growth — and took the company off the table before others could put in bids.
Just speculating, but Visa may have had a ringside seat to the growth — and took the company off the table before others could put in bids.
To clarify: investors will also be part of common here, because they will choose to convert — they won’t just want their $350M back.
If they hold 30% & it’s non-participating preferred, they get back (0.3)($5.3B). If less common participating preferred, $350M + (0.3)(5.3-0.350).
If they hold 30% & it’s non-participating preferred, they get back (0.3)($5.3B). If less common participating preferred, $350M + (0.3)(5.3-0.350).
