Looking at the cap table (to the extent it's visible in the S-1) it appears that the big winners are the investors: Breyer, USV, Accel, Tiger Global, and Index add up to 92.3% ownership of the company. [Edit, 65%]
Or am I totally reading that wrong? (Note, I really might be, this isn't my area of expertise. I just scrolled down to "Beneficial Owner".)
Edit: It was pointed out below that I double-counted Accel, making the total closer to 65%. Thanks!
You are double counting Breyer and Accel's shares -- footnotes give the key details.
Breyer personally owns 3%, and is deemed to control Accel's 27%. So collectively, Breyer is considered to control 30% of voting shares.
Read correctly (not adjusting for any preferred or convertible notes that could be in the structure somewhere), the amount held by Breyer, USV, Accel, Tiger Global, and Index should add up to ~65%
Or am I totally reading that wrong? (Note, I really might be, this isn't my area of expertise. I just scrolled down to "Beneficial Owner".)
Edit: It was pointed out below that I double-counted Accel, making the total closer to 65%. Thanks!