In this case it is secondary sale between current investor and a new one.
Even from a fundamentalz perspective they are doing really well. They control more than 50% launch market, just won a 3 billion dollar NASA contract, have huge cost advantage over everyone else, their starlink service is in beta with 100,000 already generating in 120 million revenue. This is not even including any future potential of starship etc.
They have a $100B valuation.
https://m.signalvnoise.com/press-release-basecamp-valuation-...
EDIT: why the downvotes? Are people not getting this is a joke post by Basecamp.