[nylonstrung]

This was more likely a 0-0.1x return.

There's no chance the investors were happy with this- if a company had years of runway they almost certainly advised them to tough it out. Even a downround would be preferable compared to a total writeoff

[Eridrus]

Probably 0x for everyone except the last round investors who would get basically all the cash in the bank due to liquidation preferences, which is probably 0.66-0.84x return IMO.