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A comment on Capital One to acquire Brex for $5.15B. Parent comment

Re:Capital One to acquire Brex for $5.15B by gabaix on Thursday January 22, 2026 @11:07PM (#46728296)
Liquidation preferences may have multiples. A 3x liquidation preference would have erased most gains for anyone who didn’t raise in the last round, employees and founders included.
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Re:Capital One to acquire Brex for $5.15B by x0x0 on Thursday January 22, 2026 @11:43PM (#46728520)
Fair point, but Brex' business would have had to have been incredibly weak to raise on those terms.
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