Corporate travel executives are thoroughly baffled by what a quartet of venture capitalists see in TripActions. Determining the literally unbelievable $4 billion valuation that TripActions claimed last month must have been way more "art" than "science."

A June 27 TripActions announcement included the also shocking statement that Andreessen Horowitz, Group 11, Lightspeed Venture Partners and Zeev Ventures put $250 million more into the company. Total funding now tops $480 million.

On the day of the announcement, Group 11 founding partner Dovi Frances wrote, "We strongly believe that TripActions has all the ingredients required to become . . .

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