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A comment on Tell HN: Nearly all of Evernote’s remaining staff has been laid off. Parent comment

Re:Tell HN: Nearly all of Evernote’s remaining staff has bee... by rcxdude on Thursday July 06, 2023 @02:10PM (#36620321)
Is this typically possible? My understanding is that most VCs insist on being paid first in the case of an exit, at least to the point of getting back what they put in. Founders and employees are typically last in the line.
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Re:Tell HN: Nearly all of Evernote’s remaining staff has bee... by CoffeeOnWrite on Thursday July 06, 2023 @02:24PM (#36620534)
Yes, during the rounds where VCs are stepping over themselves to invest, founders can negotiate terms that permit them (and their employees and early investors) to sell some of their stock as part of the deal, in a secondary sale (https://rizstanford.medium.com/secondary-sales-in-vc-backed-...).
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