[ttul]

How much of that $300M was a secondary to founders and employees? We may never know.

[photomatt]

You will know, because we announced it. :) It's 100% primary. There's been a lot of additional interest so probably more secondary in the future.

[ttul]

From the horse’s mouth, as they say. This is an impressive sum of new capital for growth activities.

[interactivecode]

What does this secondary and primary mean?

[ttul]

Primary: money from the financing that goes to the company.

Secondary: money from the financing that goes to employees, founders, or other existing shareholders.

Companies often use part of a financing to “take out” existing shareholders. Many larger financings are actually to a large extent a “secondary”.