Tumblr’s employees will also do well. The company’s first 10 employees will receive an average of $6.2 million in cash; the first 30 will receive an average of $3.3 million in cash, and the rest of the 178 employees will each receive $371,000.
However, in a comment on Hacker News, Union Square’s principal, Fred Wilson, calls the numbers offered by PrivCo ”total garbage.” “There is not one fact in this privco thing that is close to right,” he continues. “The numbers are good but nowhere close to that good. This is the same firm that predicted Foursquare would be out of business this year which will also prove to be nonsense.”