Claiming your revenues are $1bn when they’re apparently about half that number:
The privately owned [Vice Media] does not reveal its financial performance. [Chief executive Shane] Smith said two years ago that revenues had hit $1bn, although it later emerged that this figure included bookings, with the real total recognised revenue being closer to $500m..
That’s from the FT’s story on Vice Media’s latest funding round, $450m from private equity group TPG at a $5.7bn valuation.
This post has been updated to reflect the FT’s amended story.
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