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$382MM? Why did the investors consent to that? That's a lot more than is needed to stop worrying about the founders selling the company to keep paying their bil
by jey 15y ago
$382MM? Why did the investors consent to that? That's a lot more than is needed to stop worrying about the founders selling the company to keep paying their bills.
- jonknee 15y agoLefkowsky was already very rich before Groupon, there was never a worry he'd sell to pay his bills.
- gojomo 15y agoIndeed, and he makes Mason's comparatively small sales look better in comparison. I don't begrudge a founder taking some profits early: for a job well done so far, and to offset the natural conservative loss-aversion that might otherwise dominate their decisionmaking, to the detriment of all investors. But with Lefkofsky, it appears the more experienced and sophisticated investor who also needed the money least took the most money off the table. Hard to see that as anything other than serious insider doubt about the company's prospects.