A lot of these companies are taking VC money to pay out the founders and&#x2F;or early employees.<p>Atlassian is a good example[1]. Early employees sold their shares directly to the VC fund - none of the money went to the company.<p>That&#x27;s pretty common - in the couple of years before Facebook float VCs were buying their way in anyway they could.<p>[1] <a href="http:&#x2F;&#x2F;www.smh.com.au&#x2F;it-pro&#x2F;business-it&#x2F;atlassian-valued-at-35-billion-20140408-zqsjo.html" rel="nofollow">http:&#x2F;&#x2F;www.smh.com.au&#x2F;it-pro&#x2F;business-it&#x2F;atlassian-valued-at...</a>