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Open original source ↗A "compounding ratchet" sounds painful (it is!). Looks like company agreed to "dirty" term sheets. On the IPO, some investors will now have an incentive to push for a lower price. Best to steer WAY, WAY clear of investors asking for compounding ratchets. https://t.co/3h72RQbbY9
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Best S1 breakdown yet. Servicetitan isn’t going public because of the IPO window being “open”, but because they have a compounding ratchet from their last round. If they could’ve raised clean private capital, I bet they’d stay private! https://t.co/7Z4ZDyMAD4
Curiousjorge65 ↗