How Did They Give You a Dollar Back?

Gumroad is an app that allows users to share photos and videos. It was founded in 2012 by Mike Kucharsky, who now runs a venture capital firm called Kleiner Kleiner. In 2017, the company decided it wanted to sell its shares back to Gumroad for just one dollar. They were valued at about $16 million on the prep stack when they sold out.