Different VCs look for different things, even if you've got a great startup in the transactional space a VC which primarily focuses on marketplace/network plays

Different VCs look for different things, even if you've got a great startup in the transactional space a VC which primarily focuses on marketplace/network plays isn't going to be interested. There are dozens of factors that go into a VCs decision, everything ranging from the age of their active fund to how well the relevant partner gets on with the founders. Not every deal is right for every VC. Also you need to be careful of survivor bias, for every Groupon that succeeds there might have been a hundred that looked identical to it at seed-stage but ultimately failed.