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And if I remember correctly, Eric Lefkofsky was one of the investors who cashed out ~$1billion (!) of his Groupon shares during one of their last VC rounds. I'
by jedc 14y ago
And if I remember correctly, Eric Lefkofsky was one of the investors who cashed out ~$1billion (!) of his Groupon shares during one of their last VC rounds. I'm surprised they were able to do that, but so many people were killing themselves to be a part of the deal that Eric was able to push this slimy deal through. How any rational VC allows early investors to do that is beyond me...
Nothing against the guy (I have no experience with him) but that deal just smelled rotten. So I'm not convinced that these two people are going to be particularly effective replacements/stand-ins.
- newman314 14y agoHe's done this rinse and repeat thing several times. See Wikipedia: http://en.wikipedia.org/wiki/Eric_Lefkofsky http://en.wikipedia.org/wiki/Eric_Lefkofsky Also, * http://www.businessinsider.com/insider-selling-groupon-2011-6 http://www.businessinsider.com/insider-selling-groupon-2011-... * http://tech.fortune.cnn.com/2011/06/10/groupon-eric-lefkofsky/ http://tech.fortune.cnn.com/2011/06/10/groupon-eric-lefkofsk...
- yuhong 14y agoReminds me of this: http://news.ycombinator.com/item?id=4284524 http://news.ycombinator.com/item?id=4284524
- edouard1234567 14y agoTaking cash off the table is not seen as a negative signal if done systematically.
- newman314 14y agoRead the links I posted. Much of the last round of funding went to them instead of to Groupon. So, in a way, they took money that could have been used to grow/invest in Groupon away. So this is not your normal "diversifying the portfolio" move.