Some fascinating forensic investigation and speculation on Bird's funding ramp, cap table and founder liquidity to the tune of $44M by @theinformationhttps://www.theinformation.com/articles/one-year-in-bird-founder-sells-some-shares?eu=yx1tGklhGNkDwPfw2mZ1rw&utm_medium=email&utm_source=sg&utm_campaign=article_email …
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Bryce Roberts Retweeted Bryce Roberts
Some important context- Bird founder was the vast majority investor in the seed round and has a separate class of “founder preferred shares” which is what this number anchors in. Frankly, IMHO, more seed investors should be selling into these monster rounds.https://twitter.com/bryce/status/1008768068640575488 …
Bryce Roberts added,
Bryce Roberts @bryceSome fascinating forensic investigation and speculation on Bird's funding ramp, cap table and founder liquidity to the tune of $44M by@theinformation https://www.theinformation.com/articles/one-year-in-bird-founder-sells-some-shares?eu=yx1tGklhGNkDwPfw2mZ1rw&utm_medium=email&utm_source=sg&utm_campaign=article_email …Show this thread5 replies 0 retweets 19 likesShow this thread -
Replying to @bryce
Do we know how big seed round was? Not on CB and googling “bird seed round” not very effective
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Replying to @AustenAllred @bryce
If and only if employees can sell same %
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No, because in this instance the founder was paying their salaries in early days. He took outsized risk with his own cash.
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Replying to @AustenAllred @bryce
For that risk he has loads more equity. I did the same, paid employees from my own wallet. Idon't see a reason why if I took $$ out of a secondary that my employees couldn't also (as a %).
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