Tough Day For Internet VC Deals
from the anyone-there? dept
Today came very close to be the first day in years in which there was not a single VC deal related to an internet company. That was saved due to an Australian optical company, but it certainly makes the message pretty loud and clear. VCs aren’t looking too deeply at anything internet related these days. A VC I know just told me that the process is very simple now: they have lots of money, but they don’t rush. They just wait. The entrepreneurs get more frustrated and the valuations start dropping, and so the VC waits a little longer. They know nothing is going public anytime soon, so there’s no reason to invest until the valuations are significantly in their favor.