Last round price × total shares.
- Mar 19
- 1 min read
It’s one of the most common shortcuts in venture. And one of the most misleading.
In this carousel, we break down why that logic doesn’t hold in VC-backed companies and how value actually emerges through share class structure, breakpoints, and optionality.
If you work with cap tables, fair value, or venture economics, this is worth a closer look.
👉 Swipe through to explore the evolution:
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