The recap will devalue the stakes of many of its early investors, which include e.ventures, Sherpa Capital, and Menlo Ventures.
In June 2015, Sherpa Capital’s Shervin Pishevar wrote that online prepared meals marketplace Munchery would “be bigger than Shake Shack in 24 months.” A month prior, Munchery had raised $85M at close to a $300M valuation.
Nearly two years later, the food delivery startup is said to be recapitalizing and the recap will devalue the stakes of many of its early investors, which include e.ventures, Sherpa Capital, and Menlo Ventures. The whisper number on the recap valuation is that it would be $80M.
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