With the surprising offer for Groupon at $6B (yes, BILLION) from Google, there are reasons that it is hard to see where the next venture capital hit will emerge.
As Michael Eisner puts it:
"I’ve gone to conferences where some people are getting carried around on top of shoulders like they just won the Super Bowl, and two years later it’s “whatever happened to that guy?” I sat at the Allen & Co. conference a couple of years ago and this guy Mark Pincus [CEO of Zynga, the company behind Farmville] was sitting at the table. Who knew that two years later he would have the best room at the lodge?"
Well done to pushing through the hard times, Groupon and Zynga. Let's keep at it.
Footnote:
Here is BNN show, The Pitch, from a week ago, where business owners talk about their companies and are seeking investment capital. The private equity people have not heard of Groupon. I am sure they know the name now.
