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Does Procket Have A Chance
from the the-next-big-one dept
With the recent failures of some well hyped, extraordinarily well funded companies, you should never assume that raising a ton of money means the company will be a hit. The latest super hyped, lots of cash company to raise some questions is the networking startup Procket. It has some big names working for it, and has raised a ton of money ($272 million) at an insane valuation ($1.55 billion). It's still not clear what the company is building, but it's something in the networking space. The real question seems to be whether the networking/telecom world will bounce back, or if things are only getting worse. If there's no one around to buy Procket's mystery product, they certainly won't go far.
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If only that were true. But if the next round valuation is sufficiently lower, the past round VCs may not be willing to agree to it because they'd have their investment wiped out.
"But without the next round they'd have their investment wiped out too!" you say. Well yes, but who said these guys are rational?
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