True, that's why I worded it as "aren't too many reasons". Perhaps I'm naive, but I'd like to think that this isn't more than (made up percentage ahead) 10% of

True, that's why I worded it as "aren't too many reasons". Perhaps I'm naive, but I'd like to think that this isn't more than (made up percentage ahead) 10% of private company due diligence investigations. Although where you are more likely correct, and what I didn't think through well enough before my initial comment, is that in the case of Facebook/Loopt, it is possible that Facebook is building a Loopt competitor, rather than buying Loopt. ALTHOUGH, you would think Loopt would know this and wouldn't open itself to Facebook's scrutiny. Perhaps Facebook is making the case to Loopt that they're interested in purchasing them, but actually have much more sinister ideas? Ah, the politics of M&A. I love it.