1. Its a private equity raise not a VC round. This usually comes with secondary stock sale for liquidity to founding team .
2. The multiple is low due to low gross margins which is in the early twenties to mid twenties.
2. The multiple is low due to low gross margins which is in the early twenties to mid twenties.
2. Sure, but low margins don't mean this low multipliers if they can scale (which they can). Amazon is a low margin business!