> instead of allowing the employees to sell their shares into the Series I offering
Stripe has a large tax liability on its own hands. Investors don’t want employees’ common stock, they want top-of-the-stack pref. And Stripe wants to maintain control. Outside the executive ranks, most employees don’t have open market permission to sell their common stock.
Stripe has a large tax liability on its own hands. Investors don’t want employees’ common stock, they want top-of-the-stack pref. And Stripe wants to maintain control. Outside the executive ranks, most employees don’t have open market permission to sell their common stock.