As part of the legal disclosure to crowdfunders, Curve disclosed that Series B investors were entitled to an extra grant of shares if Curve didn’t meet certain targets by December 2019.
This seemed like a way for Curve to claim a higher valuation than the investors were willing to buy, by lowering the valuation unless Curve met difficult targets. The investors wouldn’t have insisted on this clause if they were confident that those targets would be met.
Given that December has now been and gone, I have a couple of questions.
- Did Curve meet those targets, or will the series B investors be granted additional shares, thus lowering the valuation below that at which crowdfunders invested?
- With all the free money given out in December for using your card, were the targets related to active user numbers?