If you were to log in, you'd be able to get more information on your fellow community member.
This 'story' confirms my decision back in the summer of 2000 ... NOT to take VC financing for my company (YouWorkIt). Instead we have bootstrapped this company, and that has made all the difference. I'll join in with the other comments re: "Why did you need VC $$$ if you were profitable?". One thing you must understand about the dot-com boom/bust... the VC's are in it for the 'exit' ... the I.P.O. or buy-out. Building a sustainable business wasn't the plan. It was always the "greater fool theory" ... that there would be some fool to fund the next round, or take the company public, or buy the worthless IPO shares. We're talking about over $3 Trillion in IPO losses over the last year or so. That's an historic fleecing by any measurement. I think the world of ACS and Mr. G. He will outlast this silliness.