➕Selling a company is a difficult decision, with both logical and emotional factors to consider.
✅Selling to a larger platform can offer more resources and opportunities for scaling.
❌The COVID-19 pandemic brought unexpected challenges and changes to the business landscape.
👍Visa's decision to walk away from the deal due to antitrust issues changed the company's trajectory.
😱Entrepreneurs often face difficult decisions with no clear answer, and hindsight can bring new perspectives.
Why did the founder decide to sell the company?
—The founder believed that selling to Visa was the best decision for the business and its mission. The larger platform and resources offered by Visa would enable greater scaling and customer impact.
What were the reasons not to sell the company?
—Some reasons for not selling included the potential to build a bigger company independently and the personal attachment to building the company from the ground up.
How did the COVID-19 pandemic affect the company?
—The pandemic brought unforeseen challenges and changes to the business landscape, impacting how people banked and made purchases. The company had to adapt to the new digital environment.
Why did Visa walk away from the deal?
—Visa walked away from the deal due to antitrust issues with the Department of Justice. This unexpected development changed the company's trajectory.
What lessons did the founder learn from this experience?
—The founder learned that difficult decisions often have no clear answer and that hindsight can bring new perspectives. It is important to consider both logical and emotional factors when making strategic decisions for a business.
00:16The decision to sell a fintech startup to Visa was a difficult one, considering both logical and emotional factors.
01:40Selling to a larger platform like Visa offered the potential for greater scaling and customer impact.
05:45The COVID-19 pandemic brought unforeseen challenges and changes to the business landscape, shifting how people banked and made purchases.
08:23Visa ultimately walked away from the deal due to antitrust issues with the Department of Justice, altering the company's trajectory.
09:53The founder learned the importance of considering both logical and emotional factors when making difficult decisions for a business.
