The cruel truth about how much money two founders will likely get after selling their startup for $465 million reveals the catch-22 of raising too much money

Business Insider | 7/9/2018 | Zoë Bernard
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Paddy Power Betfair is acquiring fantasy sports company FanDuel.

FanDuel was valued at $1 billion just three years ago. Now, the company is being sold for less than half that amount.

Documents - Deal - Specifics - FanDuel - Founders

According to documents that detail the deal's specifics, FanDuel's original founders might not make any money from the sale.

Selling a company is usually cause for celebration, but for the founders of fantasy sports company FanDuel, the moment is likely to be bittersweet.

Company - Britain - Startups - Years - Amount

The nine-year-old company, which was once one of Britain's most closely watched startups, was said to be valued at over $1 billion just three years ago. Now, it's valued at less than half that amount by the company that's buying it, Dublin-based bookmaker Paddy Power Betfair.

According to documents first reported by Legal Sports Report that detail the specifics of the deal, FanDuel is now valued by its investors at around $465 million.

FanDuel - Valuation - Amount - Investors

FanDuel's current valuation is about $50 million more than the total amount of funding it's received since 2009: A whopping $416 million from investors...
(Excerpt) Read more at: Business Insider
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