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I turned down $16M for my startup. Here's why

7 pointsby jscheelover 1 year ago

1 comment

jscheelover 1 year ago
I didn't write this (our founder did) but I am one of the early engineers at Groove. As a previous founder who went through this in the past, I know that acquisition talks happen all the time, and that they often lead nowhere. But when you are neck deep in the process, due diligence is going well, and you are ready to sign... that's a different story. I'm glad that we ultimately backed out of the deal. We've started a series of blog posts where we are trying to be hyper-transparent with people about our life as a bootstrapped startup struggling to make it. Years ago, when I was building my company, I was incredibly thankful for Alex's openness and transparency. That's what ultimately brought me to Groove. I'm hoping that some of these new posts will help other founders find comfort as well.