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Did you read the article? Google took longer than 30 days to close the deal, and their term sheet with Mangrove was about to expire. He had no choice but to ac
by ryanglasgow 14y ago
Did you read the article? Google took longer than 30 days to close the deal, and their term sheet with Mangrove was about to expire.
He had no choice but to accept the VC funding.
- OldSchool 14y agoSure, I read this: "After waiting for it 30 days, we decided to accept the Mangrove investment proposal." That sounds like a choice was made. My main point is for those going forward: unless the equity you stand to convert into your own personal wealth is insignificant to you, an exit can't really stop your career for long but it also just might be the only chance you get. Maybe the Google deal wasn't a sure thing but whether or not they could pay was not a question.
- jfoster 14y agoIf Google wanted them enough they could still purchase after the additional VC. They'd just need to pay more.