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Good read.
Not sure I buy the implication that these companies are “maturing” in private markets. If we weren’t on the verge of the entire house of cards collapsing, Groupon would be a much hotter story.
Suppose Groupon closes its IPO day at a 12 billion valuation. Shares of GSVC are likely to trade down because of that?
If the article is true and GSVC bought their shares on the secondary market at an implied market cap of $16 bln then yes. $12 bln < $16 bln.
I have no idea if the $16 bln figure mentioned in the article is true or not. Maybe GSVC got in much lower than the article implies.