> Postmates raised $903M since 2012 ... Not a 10x exit.

I suspect that many of the investors are just happy to record a profitable exit.

I wonder how many of those investors are also in to uber.

> I wonder how many of those investors are also in to uber.

All of them are now: it's an "all-stock deal". I guess it remains to see how many of them will sell.

Still surprising that they have managed a ~3x exit. They were raising money at a 1.3b$ valuation as recently as 2018 and to me it seems like Postmates is further behind it's competition in terms of growth and market share than it was 2 years ago.

Not sure you can do the division like that without knowing what percent of the company the contributed capital represented.

Oh, yeah that's an embarassing lapsus.To my defense,it seems like most of the equity is owned by investors and not founders, so the average return of the 900m$ is probably still around 3x~. It also seems like they have never been valued higher than the price Uber paid for them so odds are few investors got really burnt regardless of when they invested.

Some investors got wiped out when the company had to do a pay to play, I believe.

Private equity usually higher than 1 liquidation preference, and if they have participation rights then it is barely only 1x.

This is one of those cases where the pandemic saved a company. A few companies like post area and this “uncooked food by mail” companies got saved big time.

Arguably not even a profitable one considering how 903M invested almost anywhere else since 2012 would have done with far less risk.

writing was on the wall when they fired most of their city managers.

Hard business.