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Assuming, again, that the speculation that this was a forced sale is true, there could be any number of reasons for it - ranging from the simple (Sequoia needs
by ajju 17y ago
Assuming, again, that the speculation that this was a forced sale is true, there could be any number of reasons for it - ranging from the simple (Sequoia needs a good exit in this bleak environment for their limited partners and don't have any better alternatives) to the complex (Sequoia's analysis of the macro-economic conditions and their understanding of Zappos' business disagree with your own).
- tonystubblebine 17y agoI wouldn't be surprised if "forced" is even too strong of a word. What would you do if some folks who had loaned you millions of dollars and who had presumably worked with you to make your company successful, said, "hey, is there any way we could get our money out?" VCs aren't servants to the entrepreneurs, they're partners. When you take $20 from a customer, do you feel a sense of obligation to make sure they get something in return? That sense of obligation doesn't get smaller when the amount goes up.