https://techcrunch.com/2017/09/13/softbank-dragoneer-didi-close-to-finalizing-investment-in-uber/ Can someone explain does this mean they're taking a flat-round? Is this just a cap table change or are they actually getting more money? For employees does this mean price per share goes down?
Whatever, doesn't sound good for lyft
Yup. It means the big kahunas from a funding perspective have picked the horse they believe will win this race. Didi and Grab both cancelled their partnership with Lyft earlier this year, so without them and SoftBank, it beats me how Lyft is going to be able to raise more money to compete with Uber on competitive terms. Best case scenario might be an acquisition, which unlike an IPO will trigger liquidation preferences. That's not good for common shareholders.
Why acquisition is not good for employees?
Our uber news comes from the same sources as your Uber news.
Lulz.
Mainly cap table change/change in control. Cash will likely go to shareholders.
Near as I can tell, it will be a mix of cap table changes and additional funding. I don't see much of a reason for us to take more a few billion just to make sure our runway at our scale is bigger than Lyft's.
Agree, but the shakeup will be quite substantial, and majority of cash will go to employees/shareholders allowing them to liquidate.
My conjecture from the bottom is its to get rid of benchmark and softbank is using it as a discount opportunity
This is to fix the board. Plenty of cash on hand already, financials in good shape
I'd honestly be disappointed if we take any cash under a 100b valuation. But it seems like some want to get back to back to the old days of buying market share from lyft, and will take a no growth valuation to get it done.
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