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rishabhparikh
Tough outcome for many involved given peak valuation @ 12B
rvz
This looks like a bad deal for Brex as they were valued at 12 billion.

Capital One got a nice discount.

htrp
Fintech trading poorly. Also Brex didn't successfully make the AI pivot like their competitors at Ramp
fairity
Why are people saying this seems like a bad deal?

If they really only raised $1.7b, per Crunchbase, then this seems to me like a very good outcome for everyone involved except its late stage investors. And, even for the late stage investors, they're breaking even.

churchill
Pretty steep haircut from their $12b peak in 2022. And that's before you factor in their revenue that's grown 2.5* from ~$312M in 2022. If their figures are to be believed, Capital one is getting an asset growing 50% YoY, for just 7* revenues.

Maybe just pull a Bending Spoons after the acquisition, layoff most of the staff, and bring a lot of ops in-house and they'll be in profit ASAP.

bmau5
Feels like a great outcome for Brex. Mercury and Ramp seem to have been chipping away at their leadership position in recent years, so I wonder how their growth trajectory changed over that period.
paxys
Sold for $5.15B.

Brex last raised $300M in Oct 2021 at a $12.3B valuation.

DANmode
Even more notable since 80% of the US’ money supply was created after that.

So that number should be even closer to 12…

verdverm
They refused my business because I didn't have SV VC money

Chase got it instead, but they are losing it next month because of their shenanigans and greed

Wish crypto hadn't been co-opted by the same people and worse

tschellenbach
Feels like they were first in the space but then somehow Ramp ran away from dev with a higher dev pace. Fascinating to see.
blindriver
The investors all have liquidity preferences so the ones that invested at higher valuations didn't lose any money.

But all employees after 2021 are underwater. I wonder if they got any relief from management or if they got screwed.

asdev
Ramp valued at $32B is a joke. Hopefully this sets a realistic benchmark for valuation. All Ramp did was spend more on ads and marketing. And CEO is now claiming their "AI Agents" are going to do something meaningful.
whalesalad
Years ago I took a chance on hiring an engineer fresh out of a software bootcamp. Turned out to be one of the best engineers I have ever worked with - so much tenacity and thirst for learning new things. They went on to join Brex when the company was just starting out. What an awesome exit!
ori_b
I guess it's not a bad Brexit.
jollyllama
Pretty wild that they picked that as their name AFTER Brexit began.
LgWoodenBadger
Capitalone is going to need something to make up for switching all their debit cards from MasterCard to Discover
nemath
Should they have continued growing for a while before selling or was now the best ever time?
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nikolay
So, they got Greenlight, Discover, and now - Brex. They are turning into a financial powerhouse.
moomoo11
so are the founders and employees fucked? wasn't this company valued at like 12b?
piyh
comparison is the thief of joy