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September 02, 2005

The curse at Wine.com, and clarification

the dirty underbelly of the private equity business. I think it's fair to say that every venture investor has been in a situation where a single investor is using their cap table power to push forward their own agenda even if it brings harm to the company or the co-investors. This is why things like voting rights and protective provisions are really really important details of a venture financing event.

Link: SiliconBeat: The curse at Wine.com, and clarification.

Basically, though, Kitze is about to lose most of his money in Wine.com after a group of tough-nosed investors snatched the company away. Kitze isn't talking, but other players confirmed the outcome of the valley's latest blood battle.

Posted by dymaxion at September 2, 2005 01:13 AM


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