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In early 2016, Roominate gets acquired by a company called PlayMonster, which as far as I can tell, is one of those retarded walking dead PE backed roll-ups that has little logic but a fat stockpile of cash. Playmonster either knew that the sales from Christmas sucked or were sopic.twitter.com/qRuJcSxKfe
stupid, that they decided to buy the company without having seen the sales from Xmas 2015. Was this was a backdoor deal, done between the original VCs and the PE people to keep the failure of the company quiet and to avoid marking the investment to market?
Very likely.
I am increasingly getting the impression that this economic crisis is going to unravel a lot of walking dead PE and VC companies.
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