Multiple Term Sheets, Multiple Valuations.
Fund: Insight Venture Partners
Posted by Anonymous on 2012-04-10
We were very impressed with Insight Venture Partners. We met two partners and 1 associate, and all of them "competent" in our field. They ended giving us a term sheet a couple of days after we met. The following are in order and accurate;
1. Termsheet Signed
2. Asked the team to think about being acquired by a Portfolio Company
3. New Termsheet Signed (Portfolio Company and Insight)
4. Last minute left us at the table with 1 month runway
5. Came back a week later with a 50% reduction in valuation
6. We had no choice we signed and sold the company for pennies on the dollar