Yeah, all I can say is "ouch." I went through a very similar courtship process with a large tech unicorn and luckily my outcome was good, but halfway through the process I basically had to ask them to give me 5 figures in legal fees because I was paying a huge bill to attorneys and the power dynamics between single person startup and unicorn are huge. They were spending 6 figures on attorney fees and I was spending a smaller multiple, but as a single person startup.
I hope he got good advice, because this sounds really bad. HIBP is an amazing resource, and should easily command an 8-9 figure exit for the founder. It's disappointing to learn that the one suitor he settled on ended up being a dud.
I kid you not, was in a meeting at [big tech company] HQ in [HQ location] and a comment was made to the effect that "there is only one service they trust as a white hat (Troy and HIBP) and I'm like "fuck how does one guy corner the market on trust?"
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Yeah, all I can say is "ouch." I went through a very similar courtship process with a large tech unicorn and luckily my outcome was good, but halfway through the process I basically had to ask them to give me 5 figures in legal fees because I was paying a huge bill to attorneys and the power dynamics between single person startup and unicorn are huge. They were spending 6 figures on attorney fees and I was spending a smaller multiple, but as a single person startup.
I hope he got good advice, because this sounds really bad. HIBP is an amazing resource, and should easily command an 8-9 figure exit for the founder. It's disappointing to learn that the one suitor he settled on ended up being a dud.
It’s a database with public data. Let’s not get carried away.
That's invaluable
But also, much of that value is potentially lost the moment the sale goes through.
Right up until someone needs to put a price on it.