The motivations that drive CEOs and founders to sell their businesses are not always as clear-cut you might expect.
Yes, there’s a pay-day involved, but the drivers of a sale are often more nuanced than that.
We’ve assembled clips of several CEOs and founders who have spoken at Cross Campus events about the reasoning behind their sales. Their explanations are as varied as the founders themselves.
Take Mike Dubin, for example. The co-founder and CEO of Dollar Shave Club sold his company to consumer goods giant Unilever for approximately $1 billion last year. Although Dubin undoubtedly took home a sizable chunk of that sale price, he was most psyched about the prospect of thereafter being able to focus even more time on running the business.
Check out this clip of Dubin on the stage of Cross Campus Santa Monica in August, 2016. Dubin was speaking at an event co-produced with Startups Uncensored, with host Jason Nazar.
As he put it:
“Every year I spend 25% of my time raising money. To not have to do that, and to focus, on running the business, is a dream come true for me.” — Dollar Shave Club CEO Mike Dubin
For a very different take on the same subject, check out this clip of NYX Cosmetics founder Toni Ko.
For Toni, it was a very specific moment at a very specific place that first made her think that it was time to put her business on the market. Toni was speaking on the stage of Cross Campus Downtown LA in Jan. 2017, at an event co-produced by IVY.
As she said:
“At that moment, I had it up to HERE…” — NYX Cosmetics Founder Toni Ko
Founders, what led you to put your company on the selling block? Chime in with comments below.