You thought the real-estate was bad in SF now... we have AirBnB, Uber, Lyft and now Slack all going public in short order.
The US economy is extremely likely to slide into recession in the next 2-6 months. And when they do, it'll be a lot harder to get $7 billion for a knockoff IRC client.
Get cash when the markets are frothy and the money is cheap, and then use it when they're not.