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by BinaryIdiot
3233 days ago
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Interesting. As far as I can tell (from the outside, of course) Travis is reneging on his deal and he's planning on reinstalling himself as CEO in addition to the extra board seats he just procured. This seems like it would hurt employees more than anything and possibly give Travis even more control over the company. To me it appears Benchmark is mostly aligned with employees; both want the company to grow and do well. So why do many have bad feelings about Benchmark's actions? What am I missing? |
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This can be very different from employees' interest in the case where Benchmark seeks to sell their stake via a private transaction (e.g. to Softbank).
I'd also add that Benchmark couldn't care less if the company 'grows'. They've already made enough money to return their fund many times over. Their strategy now is mainly to mitigate risk to the paper value of their holdings.