Break the Habit
Venture Capitalists Shouldn't Drink the Coffee
Quasi-technology investment successes are a dangerous exception.
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Nestle SA is the latest startup shopper to validate a bad habit.
The Swiss multinational agreed on Thursday to buy a majority stake in artisanal coffee chain Blue Bottle Coffee. The transaction, which reportedly values the California-based company at more than $700 million, justifies the investment for its hodgepodge of investors. The Nestle deal gives at least some of Blue Bottle's backers a return of more than 20 times their original investment.1505413688530