Why VEEV Vodka Went for More Than 7 Times Revenue
Courtney Reum left Goldman Sachs in 2007 to start a Vodka business. He built VEEV up to more than $10 million in annual sales before he sold the company for more than seven times revenue.
Reum has gone on to start and invest in a number of businesses through his M13 venture firm, and in this episode you will learn:
- Why Reum believes time is the new money
- Reum’s secrets for avoiding dilution when raising money
- The danger of “so what” sales
- The biggest mistake he sees founders make
- Why every company should be built to sell
- How to “pre-court” your strategic acquirers
- Why you should always sell with lots of “runway” left
- About getting “crammed down” and why that’s a bad thing
- How venture capital firms rig deals in their favour using preferred shares
This one is jam-packed with knowledge bombs. I think you’ll like it.