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astrodust
$800M invested and it's sold for $12M. What a rate of return!
zaatar
Crunchbase says $225M [1], where are you getting the $800M number from?

[1] https://www.crunchbase.com/organization/one-kings-lane

josephmx
From the OP Fortune article: Its final outside funding round came in early 2014, at a post-money valuation north of $800 million.
ctvo
Valuation != invested
astrodust
It does mean someone bought in at a $800M valuation and now it's valued at $12M. The rate of return is apocalyptically bad.

Hell, setting fire to a giant pile of money would probably leave $12M in bills mostly untouched, or at least in a condition you could take to the bank.