Gilt’s Unicorn Tale Comes to an End After Being Acquired for $250M

Post by aaronbrethorst » Sat, Jan 09, 2016, 2:59 AM UTC

nikcub wrote: post #24

wslh wrote: post #15

Earlier quoted context omitted.

I am in a similar situation in another acquisition and would love to receive your feedback, mainly if we (the common stockholders) should make a "sanity check" with a lawyer or completely forget about the issue. The company was acquired recently and has some debt, so they returned money to the preferred stockholders, our common stock "was cancelled and extinguished" and one of the directors received 1 million.

Matt has covered it in his reply which i'll second - there isn't a lot you can do. The people affected tend to talk about it, which is why you hear these stories a lot. I've been surprised by the number of exits that are portrayed as 'successful' in the media actually left founders and employees with little or nothing after preferences.