Mercor's Brendan Foody calls out Sequoia over 'dual-pricing' valuation tricks

Brendan Foody, co-founder of AI talent platform Mercor, accused Sequoia of using dual-tranche investments where a lower valuation is hidden behind a higher headline figure. Foody wrote on X that founders misrepresent the higher valuation to employees and angels. Sequoia's Shaun Maguire pushed back on the characterization.