Some things can only be known in the fullness to time, for now, here's a view from PEHub and Jonathan Marino. Today, I can' t correct or dispute anything. So I won't, maybe later....
peHUB Wire--Monday, Nov. 21, 2011
No-Tech? Did Grotech whiff this June when it dumped a substantial portion of its LivingSocial stake? If you believe the New York Times, it seems very possible. Raising $200 million at a $5 billion valuation means LivingSocial won’t be dependent on its near-term capital to get public, and that it will have plenty of time to sit back and watch and learn from its biggest competitor’s (many) missteps. Now, they’ll also be able to pinpoint the precise moment—should it happen—when DC-area-based LivingSocial’s valuation outstrips that of Groupon. According to one TechCrunch report, Grotech’s valuation has nearly doubled inside of the last seven months. Translation: it’s a good thing Don Rainey and the gang held onto the remainder of that LivingSocial stake. Now, when Grotech is out raising its next fund, it can say it only botched their market timing on exiting about half its best investment ever, instead of the whole thing. Fortunately, for as long as Danny Snyder runs the Redskins, every other investor around the Beltway will comparatively seem like a genius.