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Originally Posted by stereolab
in Pre-IPO stock. Friendster founder Jonathan Abrams rejected it in favor of $13 million in VC funds because the firms valued the company at $53 million. Of course, now, those firms no longer want to fund the company, and Google's stock hit nearly $500 per share.
http://www.findarticles.com/p/articl.../ai_kepm358716
had they taken that offer, they would be worth something like $2.5 Billion
recently they asked Viacom to buy them for $5,000,000. Viacom rejected the offer.
http://www.paidcontent.org/pc/arch/2...1.shtml#053107
damn.
anyone else have bad business decision stories - your own or otherwise? |
there's bad and then there's just downright idiotic. they're gonna have to transform the site somehow to maximize value. weird the VC firm didn't assist them in a transition to at least get some chance of a return.