Universal Music received $107k worth of Uber shares in the seed round in exchange for the domain name it owned from a previous investment. They sold their shares in the Series A round the following year for $863k. Those shares were worth $532M at IPO.https://on.wsj.com/2JBgtZQ
Somewhere within that company there is an accountant applying ordinary business standards to startups...
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Would be in line with some of the decisions parent company Vivendi has made over the years then.
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Contrast with Beyonce's remarkable nous:https://twitter.com/KelvinLeeJones1/status/1128212849271001088 …
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Questionable story. Uber’s stock price has not gone up since 2015 (valuation slightly up, but dilution). Also, does anyone pay $6 mil for a private concert?
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There is a reasonable reason for this one, which is basically “If our shareholders wanted exposure to Uber they can buy that, but instead they want exposure to our expertise in running our conglomerate. Unrelated risks should be sold to someone happy to have them.”
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But Uber wasn't public at that time. Another rational possibility : "Appraising startups is a very specific and risky business. Professionals (aka VCs) often fail miserably. We don't have that skill in house. We're offered 6x more than what we expected, let's sell"
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