[etr71115]

"I have come to bury Travis, not praise him."

Last time I checked, Benchmark has one board seat? A bit bizarre for them to assert themselves (note the plural) as a benevolent agent for employees. I know 'corporations are people too', but how are employees supposed to respond to this letter? They're not. This is a PR release. Good thing "this isn’t about Benchmark versus Travis."

The CFO inclusion screams IPO, which, consequently, is all this comes down to: money. Benchmark wants to cash out.

Entrepreneurs will still work with Benchmark. Yes, they'll push you out a la Twitter and Uber style, but, at the very least, you'll be a billionaire by the time they do.

[frandroid]

The pro-Travis side of the board is trying to get Benchmark to sell its shares to them. It seems that they have a good cash-out option in front of them that doesn't not require an IPO!

[fosk]

Yes, at a 30% discount. Seems like Benchmark is pursuing other options to avoid selling at a lower price (although with a huge return on their investment regardless).

[frandroid]

Yeah, at a huge return, and they could make that value higher if they were to start negotiations.

[smallgovt]

Is there a source for the 30% figure or is that an assumption?