When NIKE Wants to Buy Your Company
Peter Fader co-founded Zodiac in 2015. The company integrated the Wharton professor’s decades of research into customer lifetime value into a software system that could estimate the lifetime value of a customer.
By 2018, the company had built itself up to 13 full-time employees, and an additional roster of part-time specialists. Zodiac had Fortune 500 companies and was optimistic about closing an A round of financing when NIKE, one of Zodiac’s customers, offered to buy the entire business. Fader and his team had prepared to keep running Zodiac post investment, but how could they say no to NIKE?
In this episode, you’ll learn about:
- How to structure the non-compete you’ll sign when you sell your business
- The most gratifying part of selling your company
- Why Fader and his team chose not to look for other buyers after NIKE’s offer
- How to sell your business while carving out the part you want to keep for yourself
- The surprising thing Fader wishes he’d hung onto after selling Zodiac