Sources: Sequoia resigned from Citizen's board, after the startup offered a "pay to play" deal obliging existing investors to participate in a new funding round (Tabby Kinder/Financial Times)

Tabby Kinder / Financial Times:
Sources: Sequoia resigned from Citizen's board, after the startup offered a “pay to play” deal obliging existing investors to participate in a new funding round  —  Investor abandons start-up over fundraising that has massively diluted its shareholding, as Silicon Valley VCs re-evaluate deals

from Techmeme https://ift.tt/G3ENamC