It’s unclear to me what the end game is for Sequoia with this investment given that a light bulb — even a $99 light bulb — still doesn’t seem like a venture-worthy investment with the kind of margins and hockey-stick-like growth that could lead to an IPO. However, as we are seeing with Google acquiring Nest for $3.2 billion and then Dropcam for $555 million, the end game may just be getting Apple, Google or another larger player to shell out a ton of cash for the next hot trend.
