There is nothing that requires a VC to sell part or all of their shares when an IPO occurs. And you can read their S1[0] to verify.

[0] https://www.sec.gov/Archives/edgar/data/1477333/000119312519...

No people on the Boards of both companies? Sorry for being cynical. Seen so much funny stuff in this industry. Good for Deno. Better choice given the talent behind it than Bun, IMHO.

...And the VCs who invested in Deno will be getting their return from Cloudflare acquiring it, since they are "not allowed to lose".

They would rather have Deno pursue an acquisition instead of shutting down and losing their investment.

The only questionable detail about this announcement is it was for an undisclosed amount. Make of that what you will.