If they get enough investors, the stock is 50% off.

This is great news! First, I’m a HUGE fan of Groupon. Secondly, my partners and I have been working on something big, but with us spread between Seattle, Chicago and Ohio we’ve been wondering if there was any way for us to find possible investors. Going to talk about it, spend some time this evening dusting off our Pitch Deck!

There may be more to Keywell and Lefkofsky… Barron’s did an expose on them: http://sbk.online.barrons.com/article/SB116864725853275703.html?mod=9_0031_b_this_weeks_magazine_tech_week

Midwest?
What are they working on mobile grain elevators?

You’re pretty funny librarian.

The only reason why there isn’t more tech innovation coming out of the Heartland is b/c the VC snobs can’t leave the coasts which forces the talent to leave the Midwest. It’s completely senseless but not a surprising given the infatuation VCs have with coastal perceptions of talent.

Really? From someone named Librarian Chat?

These two are the biggest scam artists in Chicago – STAY CLEAR!

Their HALO story is legandary in the area. Look at the companies they started, and see if they are part of the management. Their backgrounds are so bad they can’t be part of management lest the SEC or other investors get cold feet upon background checks.

There are good, legitimate people in Chicago that have created some amazing online properties (Dick Costolo – Feedburner, Alex Zoghlin – Orbitz, David Heinemeier Hansson – inventor of Ruby on Rails). Someone should round them up and start a real midwest tech VC.

Uh oh.

Do they have $100 Million, or are they going to raise $100 million? Knowing these two, they are going to raise $100 million, pocket $50 million in management fee’s, blow $40 million on real estate and parties, spend $9 million on PR for themselves, then fund one of their own entities for $1 million.

Does Techcunch do any background on the stories they print? Almost makes me yearn for ‘old’ media when I see stories like this one.

The barron’s link above is behind a paywall but here it is free: http://notablecalls1.blogspot.com/2007/01/inner-workings-of-innerworkings.html

yes to what captain midwest said

wow. first a company that makes clipping coupons fun, now giving back to the communities with an investment fund! also just wrote my own perspective on the product, too. check me out – http://web-poet.com/2010/03/15/groupon/

captain midwest and midwest avenger..what kind of dog and pony show are you running?

Can’t stand haters..Where’s your $100 million dollar investment in Chicago economy?

[...] a story recently featured on Techcrunch and several other online news outlets, the two Chicago entrepreneurs announced Lightbank as an [...]

I took Lefkofksy’s class at Kellogg – he’s a visiting professor there. The man is an f-ing genius and a great guy. Didn’t Groupon just raise $30 mill or something from Accel? $

How pathetic this is, really, to have to read comments about a company (Starbelly) that Lefkofsky and Keywell founded so long ago. The truth is that Starbelly was like every other RELEVANT dot com of the day – they had first mover advantage in their space which was dominated by off-line companies like HALO, who, by the way, had their own set of issues and horrific business decisions long before they approached Starbelly.

Like them or not, these two are a force to be reckoned with, and look no further than Innerworkings and Echo (both publicly traded companies on the NASDAQ), and now Groupon, as examples of their success.

Agreed with the most recent posts. These guys have an undeniable track record of success in recent years and have set up a fund to aid startup companies who have few options simply because they are geographically challenged. Say what you will about Lefkofsky and Keywell’s venture 10 years ago, they have since started 4 businesses that have accounted for more than 2,500 jobs – many of which were created when other companies were slashing jobs.

I feel bad for those who still feel compelled to bring up the forgotten past and then go on to attack TechCrunch for their lack of due diligence. This article talks about a pre-tech bubble company from 1999 – that’s centuries ago in the tech world. People ought to learn from their own mistakes (as well as those of others) and take those lessons with them for future ventures. Lefkofsky and Keywell have apparently learned from theirs and are now trying to add value to a new crop of entrepreneurs who share their passion and vision for new ventures.

Hopefully, those that continue to attack these guys can (and/or have) put their personal vendettas behind them and look to the future and strive to achieve the success that Lefkofsky and Keywell have since achieved.

LightBank – Good luck with the new venture. I hope you can share your experience and knowledge with entrepreneurs and continue to create jobs and employ thousands in the MidWest and beyond.

Actually if you read the article it only mentions starbelly but you guys seem quite hung up on defending them for it, most of the article is about what happened during the innerworkings roadshow. Frankly the last two comments are so long and so late after the fact that they seem like astroturfing

great article, check it out – http://www.pehub.com/66391/groupon-poggled-and-other-reasons-vcs-are-suddenly-traveling-to-chicago-these-days/. it’s chicago vs. new york for the #2 spot.

Ruby on Rails: Created by Chicago company, 37 Signals – ever heard of them?

Django: Created by Chicagoan, Adrian Holovaty while working for a newspaper in Lawrence, Kansas

Threadless: Chicago company considered by some to be the first “web 2.0″ company

Groupon: Chicago

You coasters think you invented everything.

good to know this

Venture does not end 10 years ago- the article in 2007 in Barrons is pretty telling.

Who’s $100 million is it for this investment fund and why didn’t they just fund Groupon out of their own pockets?

+1- Deja vu

[...] with Sprout Inc, Sprout or Sprout, has received a Series A round of funding from Lightbank, the recently launched investment vehicle created by Groupon founders Eric Lefkofsky and Brad [...]

[...] with Sprout Inc, Sprout or Sprout, has received a Series A round of funding from Lightbank, the recently launched investment vehicle created by Groupon founders Eric Lefkofsky and Brad [...]