GSV Snapshot
GSV (Grove Strategic Ventures) should know more about weeding out good and bad business plans since trashing its own. The firm operated consumer products e-tailers CyberShop.com and electronics.net. It opted out of those businesses and reinvented itself as an Internet startup incubator. Investments included Weema Technologies and Telephone.com. After the dot-com bust, the value of GSV's investments plummeted. GSV gets about half of its revenues from an interest in two Louisiana oil and gas wells. The company subletted offices in New Jersey. Since the tenant defaulted on the lease, insurance covered the payments, and GSV ceased those operations. Chairman Sagi Matza controls 77% of GSV.
