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I don't see why you would be shocked. The digg board is made up of VCs playing with other people's money. Their compensation is based on hitting home runs. It
by ojbyrne 16y ago
I don't see why you would be shocked. The digg board is made up of VCs playing with other people's money. Their compensation is based on hitting home runs.
It would have been roughly $3.5 million dollars for me (without the earnout).
- RBr 16y agoThat makes a lot of sense. However, a home run would be the highest value possible. With an aging service so deeply rooted in an online community (which are inherently fickle), a 2x value price would seem reasonable if not generous. I have to think that investing in community centered services is a fast game where smart investors get in early and out while the community is still engaged. Then again, everyone needs more yachts to water ski behind.
- ojbyrne 16y agoIf it was the offer I think it was, it was significantly higher than 2x, because it was before the Series B (so roughly 5 million invested thus far).
- johnrob 16y agoIf there is a non zero chance of a higher exit, no matter how small the odds, the VCs will take it. Thus 80 million is not the home run exit.
- bkrausz 16y agoOuch... Don't worry, I'm sure your other investments will earn you at least that much ;-)
- ojbyrne 16y agoNooo! That would imply you following the same (long bomb) path. A nice 2-3x would be just fine.
- deleted 16y ago[deleted]