DISQUS

Entrepreneur · 2 years ago

"At one point, the company had to reset its value to zero"

How can you call this a success for the initial founders? Did they get wiped out completely? This is more than anything a cautionary tale than a success.
Matt Marshall · 2 years ago

I've had contact with both Ramana and the investors, and they aren't talking specifics about that recapitalization round. They're merely calling it a "tough time." They say FOIA (freedome of information act) rules are "sticky" on the valuation issue, and so don't want to talk about it. I'm not sure what they mean by this, as they're pretty free to talk about this if they want to, since it's so far back. Still, since Ramana took over after the reset, and ended up with the sale price that was so significant, I'm sure he did really well. Mobius credits him with the transformation.
Entrepreneur · 2 years ago

This silence speaks for itself.

If anything this is a story about taking a flagging company, flushing the founders and using the assets with new money to create something entirely different.
Scott · 2 years ago

A big congrats to Purple Yogi. And to Mobius, who is on a posthumous roll...Feedburner, Postini, Sling, Purple Yogi, and more.