Color….no doubt 41 million pre-revenue pre-product is frothy…hell it’s like Mr Bubbles takes over the world frothy. Like when they pitched they floated to the office in a bubble, brought buckets of bubbles for everyone and when they opened their mouth to talk, bubbles came out. Advantage Bill Nguyen. Instead of Gary V’s “oak-monster”, this is “froth-monster”. But still, the froth-monster intrigues me. I’m not talking about the app (I haven’t tried it yet), I’m talking about the psychology of the deal, the fact that 2 firms and one bank valued Color at 41 million without a dime of revenue and without any idea of adoption (product was pre-release). The team/track record and potential were enough to get checks. Maybe I’m so sheltered in my mid-western lens of VC and angel deals going on around me to really know how deals work on the coasts. Heck I don’t even know exactly how deals work here, but I do know things like this only happen in the Valley. Sequoia said “it’s as big as Google”. Those words along with 41mil should make Bill Nguyen a very happy man. It would be cool to meet you and ask how.
