Orion Hindawi, the
Unlike previous rounds,
Orion Hindawi told CNBC that David is "taking about half of that, $50 million, and funding his charitable foundation, with that. The rest is going to early employees and investors." The foundation focuses on early childhood development and health, but the younger Hindawi declined to name it, saying that his father prefers to remain anonymous with his charitable giving.
Earlier this week, Hindawi told CNBC that going public is "the right thing for our company to do." He also said the company has more than $300 million in the bank and is cash-flow positive.
So if liquidity is the goal, and the company's finances are solid, why not go public now?
Hindawi said that he's looking for more predictable quarterly sales cycles. Right now the company's growth is driven mostly by new customers, and a huge deal at the end of the quarter could totally make or break the quarter, which could cause distracting swings in the stock price, he said.