How investment works
 
33 m
 133 m
 33 m
 100 m
25%
 
 
 
 
 
 
 2 X
20 m
 60 m
 12 m
 48 m
15%
20%
 Series C Investors
 5 X
20 m
 12 m
 4 m
 8 m
20%
27%
33%
 Series B Investors
 15 X
30 m
 4 m
 2 m
 2 m
20%
27%
33%
50%
 Series A investors
15 m
10%
13%
17%
25%
50%
 Fred
15 m
10%
13%
17%
25%
50%
 Joe
Times
At IPO
Post
Raise
Pre
IPO
C
B
A
Pre-funding