In 1999, wine.com sold for $2.9 million, 1999 drugs.com sold for $830,000 (bought by venture frogs!), diamond.com sold in 2007 for $7,500,000, color.com sold in 2011 for $350,000
Norris communication corp founded in 1988, changed name to e.Digital Corporation in 1999, stock shot up. Valinux systems (lnux) went public in 1999 and traded over $300/share. A year later it was trading at ~$9/share. Last year pandora went public and has since lost about ½ billion dollars in value.
Zuckerberg has taken to taking candidates on walks through the woods.
“But how do we know when irrational exuberance has unduly escalated asset values?” Greenspan 12/96
Raising venture money does not validate your business model