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by toomuchtodo
900 days ago
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> However, TechCrunch confirmed with someone with knowledge of the situation that Pitch essentially returned all unspent cash to its investors pro rata, reducing the investors’ ownership stake in the process. This means that current and past employees (including all the founders) now own 80% of Pitch, while the company has enough cash to see it through a couple of years either to profitability, or to a point where it can sell at a lower price than its previous valuation (which was $600 million in 2021). Interesting data point with regards to ownership interest and incentives. |
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