Somewhere I saw a mention, in the S-1 I think, saying they were going to use some of the $$$ to update their software or the website...
They're certainly not going nuts spending a whole lot of money and wasting it... not even paying salaries to the execs...
For me, the bottom line in the DD process is still going to be needing to find a way to be able to parse the probability of and timelines for generating success... given the nature of the risks they face.
I'd like to see more from them in the way of what they're thinking that they'll have a need to accomplish to succeed... and more about what sorts of things they think they CAN do to increase their market penetration, and help tip scales in terms of getting BLGW out in front, both creating and surfing the wave...
I think they may need to do more, to get things going, than simply provide a site that is a venue in which bloggers and companies can meet. To make a raging social media success out of it, they'll need some ability (whatever the source of that ability) to recruit great writers, a stable of skilled bloggers that companies want, and solid companies, those that are willing to spend enough, willing to commit early enough to the concept, that the connections formed will really matter...
Might need an ability to sort product based on quality...
I'll want to see them deliver some obvious successes... some of which is going to be hard, perhaps, given that publicizing them too well might also tend to undermine the value of the impact of success for corporate clients ?
Would certainly like to see them talking to some people who might have some broadening experience they could bring to the management or the board in an advisory capacity...
If the function is going to replace legacy media advertising... it might still be necessary to have some tools available to bridge the gaps between past and future...
With a solid enough line up of bloggers able to deliver quality in volume... there seems there should be some ability to close loops between the functions you'd expect of a purely social media based web operation... operating as a clearing market for direct transactions between corporations and bloggers... and what you'd expect to occur in legacy media transactions...
I'd love to see them consider working as a service provider with a legacy advertising agency... which might, if nothing else, provide them with a lot of interesting "perspective" on things... that it might be necessary to have a "perspective" on to enable this to take off...
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