[benzible]

Most of this is dead on but I've been in the middle of this type of deal and "happy to sell" wouldn't be an accurate description of the investors. Having some % of failures is built into the VC model but they'd still much rather have gotten their capital back.

Also, this reminds me of Computer Associates' (later CA Technologies) business model: buy enterprise software companies with locked-in customers, fire staff and cut costs as far as possible, and increase maintenance fees, all with the understanding the the business will deteriorate over time. I think here the equivalent of "increase maintenance fees" may be "load up the product with even more ads".