My guess (and I'm a shareholder) -- down round, more opportunities for Kevin and Jay to extract value (personal service contracts, deals tied to the two spinoff companies, etc). Every employee and ex-employee loses.
The two of them have done a great job, at every turn, of hiding financial information from the minority shareholders. Meaning me most of all. The fact that it's a guess proves my point. I'm still fighting for 2006 financials.
My comment got picked up by valleywag. Just to make it clear, I have the exact same class of shares as Kevin, and no mention of cashing out has been mentioned to me. If there hasn't been "cashing out" I'm fine with that. If there has been, I at the very least should know the details. My issue isn't dilution but liquidity preferences.
You should make clear why you think that's true, since it isn't in just about every situation I've ever been involved with.
You aren't on the board and you aren't a major shareholder.
Your shareholder agreement or employee agreement probably state that you agree to vote with the majority in all votes which is another way of saying you don't get to vote (or gain access to the financials).
