smalera

Oh Color. Here was our launch day coverge: http://cnnmoneytech.tumblr.com/post/4065687380/image-gaping-void-ms-paint-ok-now-its

smalera:

I got caught up thinking about the hype around the Color launch and re-read a bunch of launch-day stories (ie, most likely embargo’ed in exchange for access), just for kicks. These are the stories and lines that stuck out at me, posted without further, er, color:

What’s powerful about Color is…

In honor of Color, we bring you this Monty Python clip

Email from Color finance vice president Andrew Urushima, as reported by VentureBeat: “Last week, the Board and major shareholders voted to wind down the company.”

Spokespeople from Color and its biggest investor: “Color is not shutting down.” 

It’s the Schrödinger’s cat of startups. Also, we totally called this way back on launch day.  -Stacy

The all-time biggest Internet IPO ever …

Was a stock scam. 

In the run-up to Facebook’s IPO filling, we checked with a few data trackers for historical context. With numbers like $5 billion to $10 billion being tossed around for the likely deal size, Facebook is poised to be a pretty whopping offering. But will it be The Biggest Ever?

Nope. At $5 billion Facebook wouldn’t even crack the all-time top 20, according to Dealogic, which has the Agricultural Bank of China Ltd’s 2010 IPO in the #1 spot. That offering raised $22.1 billion. The U.S. recordholder is Visa, which raised $19.7 billion in 2008.

But Facebook should pretty easily set the record for biggest IPO by an Internet-focused company. Who holds the current record? Not Google, which raised $1.9 billion in 2004 — a U.S.record — but is only #3 on the global list. 

The top spot is held by “World Online International NV,” which raised $2.8 billion in March 2000, saith Dealogic. I hadn’t heard of it, so I asked the Wikipedias. Turns out it was a total fraud. Touted as the AOL of the Netherlands, it hit all the dot-com stations of the cross: No profits, pricey celebrity ad campaigns, and executives secretly dumping stock before unloading shares on the public.

The founder was ousted in disgrace just one month after the IPO, and World Online was de-listed the next year. It’s been dead for more than a decade. 

Caveat emptor, bubble buyers. -Stacy 

Can we please tattoo this phrase on every tech investor?

"An investment in our common stock is subject to risks and involves a heightened risk of total loss of investment.”

That’s from the initial SEC filing of GSV Capital, a firm that invests in “venture capital-backed, rapidly growing emerging non-public companies” (translation: “HAWT BUZZY THINGS LIKE THE TWITTERS!”). GSV is publicly traded and saw its stock rise 40% yesterday after it announced it had spent $6.6 million buying 225,000 Facebook shares — at a $70 billion valuation. (That’s almost two eBays, or 2,300 MySpaces and an infinite quantity of Friendsters.) 

225,000 Facebook shares gives GSV Capital an ownership stake of 1/100th of 1%. 

Let’s go look at that “total loss of investment" line again … -Stacy