[amitutk]

Most likely earlier share holders sold their stakes, so not much dilution. Perhaps founders took money off the table too. In these cases, there is not much dilution because new shares are not issued (but not much capitalization either).

[not_that_noob]

That's right, but it is usually minimal. This is a very dilutive round. But they need the cash, as the general MO is to try and drive competition out of business by pushing prices down. So not much of a choice here.

[wskinner]

It's hard to infer much from this article since it lacks all relevant detail. If the earlier share holders are selling common stock, it's not clear how that affects the preferred price.