In late 2011, Groupon, the daily deals company, went public in a glittering debut. But it quickly began to lose luster, and after abruptly ousting its founding CEO, Andrew Mason, last week, the VCs who invested in the company probably wondered whether they would have to write down their carrying value for the company yet again. According to experts, they should be more worried whether Groupon will be worth anything at all.
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Most of today’s founders will fail. And when they do, they probably won’t leave with riches or celebrity. At least they’ll have a fairly solid resume.
After Zynga goes public tomorrow, hundreds of its employees may see their wealth soar into the millions of dollars. The same appears true for possibly thousands of Facebook employees, when it holds its offering next year. But while Silicon Valley appears awash in easy money once again, the reality is that getting rich at a startup has never been [...]