Are there a pre-set number of board seats or can new seats be issued as new investors emerge?
How did Mark Zuckerberg maintain control of the board, whilst still receiving huge VC investments? So I imagine it something like, he owns majority of the board but not majority of the shares?
Crazy high valuations—investors are paying huge sums for small stakes. If you convince people your startup is worth ten billion dollars, you can raise a billion yet retain 90% ownership.
How did Mark Zuckerberg maintain control of the board, whilst still receiving huge VC investments? So I imagine it something like, he owns majority of the board but not majority of the shares?