Blank Street raised $105M. But $30M of that is secondary, meaning it doesn't go into the business at all. It goes to existing shareholders selling their stake. So the actual money to open new shops is $75M, and the rest is people cashing out at a valuation that went from $500M to $650M in a year. wild
Yes, I mean the people that are cashing out might still have a stake, but wanted liquidity. Hard to know. There were rumors the company was actually trying to command a higher valuation, closer to $1B initially
Blank Street raised $105M. But $30M of that is secondary, meaning it doesn't go into the business at all. It goes to existing shareholders selling their stake. So the actual money to open new shops is $75M, and the rest is people cashing out at a valuation that went from $500M to $650M in a year. wild
Yes, I mean the people that are cashing out might still have a stake, but wanted liquidity. Hard to know. There were rumors the company was actually trying to command a higher valuation, closer to $1B initially