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a loss? are you joking? Benchmark investment in Uber is tracking to be one of the best VC investments ever made, 11 million series A + whatever money they put in pro rata and their stake is currently worth anywhere from 5 billion to 14 billion, 20% of Uber (Series A) + dilution

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Based on their current valuation, exercising pro rata could have turned out to be a lot of money, but certainly not 5-14BB. They may be looking to dump at a big discount to the current valuation though, which could put them near a wash or a loss.

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