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The best part is, they can't even oust Pincus to try something new, can they? He has a controlling share. Be cool if Fred Wilson, or another one of the early
by tatsuke95 14y ago
The best part is, they can't even oust Pincus to try something new, can they? He has a controlling share.
Be cool if Fred Wilson, or another one of the early investors, would make an appearance to explain why the hell they thought dumping this on the public was a smart and/or credible thing to do:
"Look at the list of the Zynga insiders who cashed out this quarter to the tune of $516 million, it’s chock full of A-list investors like Fred Wilson, Reid Hoffman and Silver Lake Partners. So the narrative right now is “The insiders dumped that stock at the exact right time.” I want to flip that and say “The VC’s have sent you a term sheet for an investment.” Consider the rationale for fiduciaries like Fred Wilson, who turned a $5 million investment in Zynga into almost $400 million."
http://blogs.marketwatch.com/cody/2012/07/26/the-venture-capitalist-angle-on-zynga/ http://blogs.marketwatch.com/cody/2012/07/26/the-venture-cap...
Next time someone brings up Wall Street, they need to take a step back and realize this behaviour is happening in their own back yard.