Comment by blindriver
18 hours ago
No. The last two investment tranches will get back their money, based on 1X liquidation preference. Employees who joined in the last 5 years if they got options are fucked. If they have RSUs then they will take a fraction of their equity.
It sounds like investors got out okay, but employees got fucked big time. It's a terrible exit and Brex waited too long until their growth stalled.
sorry how did employees get fucked? theres more money after the 1.7B.
Hopefully those who joined took the all-cash option when that was still available.
Silicon Valley seems gamed against employees - it gets worse every year. Companies don't even share the cap table (including many YC companies).