Fwiw, I can't imagine how the founders & team are feeling right now. It's unbelievable that a new CEO comes in after 6 mo & nets $11m. I am angry for them. 
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“We never envisaged it would be used to screw everyone who wasn’t an institutional shareholder,” said one early FanDuel investor, who did not wish to be identified. More:https://www.thetimes.co.uk/article/how-fanduel-founders-and-staff-lost-out-to-wall-street-q2j0v3npl …
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More info about FanDuel founders/employees getting screwed: Sounds like the the new investor shadily executed a nuclear option rarely deployed if investors see the business not succeeding (in their opinion) & want to return as much capital as they can for LPs. Founder nightmare!
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"Drag-along rights are not uncommon and are used to allow majority shareholders to sell a company when a minority objects. However, they are rarely invoked in deals that result in early-stage investors being totally excluded from the spoils."
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“Investors who participated in a $275m fundraising led by private equity giant Kohlberg Kravis Roberts (KKR) in 2015, meanwhile, have been awarded 2.35 new shares for every existing share.” Read: http://www.heraldscotland.com/business_hq/15455613.FanDuel_hands_more_equity_to_backers_in_merger-termination_deal/ …
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Ha. I literally just tweeted this.https://twitter.com/rjonesy/status/1015637769585152000?s=21 …
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That's a great post
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I
agree with your statement but you’ve no idea what went on internally. Don’t judge unless you know the details. Also FYI our main competitor raised almost one billion dollars. What would you have done? -
True. Doesn't matter what I'd do, you have the context. Wasn't attacking you guys.

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It seems like they needed to raise $416M because draftkings raised $715M. Would have been left in the dust if they didn’t raise that much.
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I don’t think that either of them needed much - they were operating in gray area not regulated and could not scale anything until probably next 5 years....
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Wydaje się, że ładowanie zajmuje dużo czasu.
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