"FanDuel founders to receive no cash from sale to Paddy Power Betfair"
https://news.ycombinator.com/item?id=17485246
(July 8, 2018)
Shamrock Capital Advisers and Kohlberg Kravis Roberts are the two mentioned investors, I believe.
https://news.ycombinator.com/item?id=17485246
(July 8, 2018)
Shamrock Capital Advisers and Kohlberg Kravis Roberts are the two mentioned investors, I believe.
If I read crunchbase correctly FanDuel got $350M in funding by 2015, and sold for $465M 9 years later, for 33% ROI, or about 3%/yr. Founders don't deserve anything just for managing to hold on to investor capital and not lose it. Investing money at below market rates is not an achievement. Founders and employees weren't robbed.
Also, OP is just a bad ad.
The claim that the valuation was artificially deflated due to conflict of interest seems stronger than the concern about liquidation preferences. FanDuel's 10x valuation growth from 2015-2020 backs up the charge of deflation.
https://www.wsj.com/articles/fanduel-founders-former-employe...