Vice Media got the lofty valuation it sought in a 2017 funding round, but with a condition: up to nearly $400 million of payments due starting this past January
Vice Media Group saw problems ahead for its business in 2017 when the new-media company set out to raise more money.
The priority for co-founder and then-chief executive Shane Smith was to secure an eye-popping valuation, some people close to the company say. He got his wish when private-equity firm TPG invested $450 million, valuing Vice at $5.7 billion, far higher than any Vice rivals.
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