In order for a company like Groupon to get valuations befitting a high-growth technology company instead of a coupon-clipper business, there need to be compliant and willing investors. Many have their own personal compulsions. Kleiner Perkins, having lost its shirt on clean tech and energy investments, decided to double down on social and web investments — price be damned….For others, it was merely a way to play the momentum, make a quick buck and show a win, so that they can go on and raise yet another big fund….Many of these late-stage investors were trying to time the market. And as someone really smart once said — you can’t really time the market.

From my Om Says newsletter from earlier this week. Continue reading Groupon is not a tech company. Why was it valued like one?