I'm new to this startup world, so please correct me if I'm missing something.
A group of investors pooled $2M together and invested it in ZipList. They are expecting that the company (in just a few years) will be worth quite a bit more and likely sell to a larger company. The investors fully anticipate making back their investment plus considerably more. Is that correct?
Does this seem a little much for an application that manages your shopping lists? To repeat something I've heard oh-so-much here on HN, are they really solving a problem?