dear "greed is good", IMO your concerns are reasonable and...

dear "greed is good",
IMO your concerns are reasonable and understandable, .....however....NEA is now in a new investment space.
It can expand its business by replication, it can expand it by product offering, it can expand it by customer type and application, it can expand by customer "stickiness", and it can expand the market (many companies and governments have not yet realised how they can improve their business operations by Nearmap-type products).
And by next year it will have less than 1% of currently addressable market.
It needs to fill the opportunity and lead the market very strongly.
Other big competitive players have noticed and understand.
Threats to Nearmap's growth must be dealt with speedily.
"Go for growth" is now not enough - it has to now be "Go for Dominance"

[The investment comparators for Nearmap are now the early-stage Facebook, Xero, Google, Amazon, Atlassian, Netflix, Twitter ...]