Invested: $250,000 thousand
LVIC Members invested in a private tech company with several existing streams of income and was profitable.
WMODE Management expected the company to undertake a public offering within a few years but (to the pleasant surprise of club member/investors) the company was privately purchased by Peter Thiel (Founder of Pay Pal) for a 92% gain just ten months after club members invested.
This project is now outside the parameters and mandates set by the Las Vegas Investment Club in Jan 2015 – (since that decision we only invest in projects in which we play an active role).
However, this passive investment is worth mentioning and certainly was an unqualified success.
THIS DEAL IS COMPLETED.