Not only did they double the size of the offering dropping the price to 15 from 18 but the green shoe caused another 15% dilution as they sold an additional 900,000 shares. These people belong on prison. Yet the SEC looks the other way. Groupon has failed; now Zinga is failing. Besides facebook do they own anything that is worth while? Throw in now that Twitter is not going public for another 3 years, they have absolutely nothing going. The people running this co. are jackasses who know nothing. Permanent short along with Whitney Tilson.
foolish post. Read my analysis last week. A thin float, only 5M shares. They needed cash to fund operations. Now, they have that cash, and expanded their shareholder base. Many funds and large investors couldn't buy enough shares to make a difference in their portfolio.
Now they can with more shares. Buy and enjoy ride up, no a quick run, but longer term.. YOU ARE FOOLISH
You sound like you need a hug my man. So let me get the straight, you think it's criminal that they issued more shares? You call it dilution, which I know it technically is, but lets be real, going from a meager 5.5 mil shares to 11.5 mil outstanding isn't anything to get all bent out of shape about. So you bought some shares at $21 and are a little ticked off, which is understandable. How about instead of crying on a message board and makin ridiculous accusations that are silly, you look at the big picture, and do a little DD on the companies involved here. You say other than FB there nothing here? Might be the dumbest, or funniest thing I've heard in a long time. Just to review, Chegg is on 7000 campuses and is revolutionizing how students learn, Dropbox (a cloud/data storage play) has grown from a million users to 45 million in 2 years. Zynga is dying you say? God Wish I owned a "dying" company that has 360 mil plus users a month, and is a major component of what will be the biggest IPO ever. People are going to stop playing words with friends or any of the other silly games anytime soon, that's a fact. And by no means am I a huge fan of groupon, but it's 3% of the entire fund, not a big deal. Especially when you look at the huuuuge potential of Bloom Energy, Silver spring networks and Zocdoc.
So there you have it, this person thinks that GSVC doesn't have (enormous)upside potential being invested in Social networking/gaming, cloud computing/data storage, clean and efficient energy, and education (college campus' never experience recession by the way). Michael Moe picked companies that can and will be profitable no matter what the economic environment is, and at the end of the day he's given the little guy, the retail guy, an opportunity to get in on the best and hottest IPO's on the planet. What a scumbag...