kudos for the transparency, a really interesting post
I sold Baremetrics
11–20 of 521 posts
Re: I sold Baremetrics
#12I know there's a trope about the naive founder getting screwed by shifty-eyed VC sharks, but it really sounds like Josh screwed his investors and employees here.
> I wanted them to at least get their money back, but ultimately, for the $4m purchase price to work, we’d need to ask them to walk on their [$800,000] investment.
He clearly didn't want it very badly, then. Nearly $3 million wasn't enough? That's about $420k per year for the time he put in, not counting anything he already took out. Keeping the extra money only increases that to about $530k/yr.
And it sounds like the early employees get nothing, other than not getting fired immediately.
I like the Baremetrics product but man this really leaves a bad taste in my mouth about Josh personally.
Re: I sold Baremetrics
#13$3.7 million sounds like a lot of money, but he could have earned more than that over 7 years if he just took a mid-level job at a FAMANG company. EDIT: saw that the founder lives in Birmingham, Alabama. So yes, $3.7 million IS a lot of money.
So true. I could have also hated my life for those 7 years. I make a terrible employee. :)
Re: I sold Baremetrics
#14$3.7 million sounds like a lot of money, but he could have earned more than that over 7 years if he just took a mid-level job at a FAMANG company. EDIT: saw that the founder lives in Birmingham, Alabama. So yes, $3.7 million IS a lot of money.
That assumes he took no salary or dividends for 7 years, which seems highly unlikely given their ARR.
Re: I sold Baremetrics
#15$3.7 million sounds like a lot of money, but he could have earned more than that over 7 years if he just took a mid-level job at a FAMANG company. EDIT: saw that the founder lives in Birmingham, Alabama. So yes, $3.7 million IS a lot of money.
I imagine he paid himself a salary during that time, and 3.7/7 would be >$500k/y which is >mid level at a FANG+ company.
Re: I sold Baremetrics
#16I know there's a trope about the naive founder getting screwed by shifty-eyed VC sharks, but it really sounds like Josh screwed his investors and employees here. > I wanted them to at least get their money back, but ultimately, for the $4m purchase price to work, we’d need to ask them to walk on their [$800,000] investment. He clearly didn't want it very badly, then. Nearly $3 million wasn't enough? That's about $420…
You're making a veritable crap-ton of assumptions here. Happy to talk about specific concerns, but not if you're going in to this with guns blazing looking for a witch to burn.
Re: I sold Baremetrics
#17$3.7 million sounds like a lot of money, but he could have earned more than that over 7 years if he just took a mid-level job at a FAMANG company. EDIT: saw that the founder lives in Birmingham, Alabama. So yes, $3.7 million IS a lot of money.
Yeah, I was gonna say something like that. Nothing to sneeze at but I’ve made slightly more (not even considering my salary) by just working a software engineer job over the last 4 years. Nothing fancy, lots of afternoon naps. Not a staff engineer, not a VP, just a regular old mid-level engineer. A hump, you may say.
To each their own. But you won’t see a blog post about mine because it would be a very boring read.
I see posts here refusing to believe this could possibly be true. You must be a VP! Normal coders don’t make that kind of money! You don’t have to believe it- but you’re not hurting anyone besides yourself if you don’t.
Re: I sold Baremetrics
#18$3.7 million sounds like a lot of money, but he could have earned more than that over 7 years if he just took a mid-level job at a FAMANG company. EDIT: saw that the founder lives in Birmingham, Alabama. So yes, $3.7 million IS a lot of money.
That assumes he took no salary or dividends for 7 years, which seems highly unlikely given their ARR.
Right. I've been paying myself $100-150k a year for most of that.
Re: I sold Baremetrics
#19I really appreciate the lack of “our incredible journey” platitudes in here.
It was a wild ride, but all journeys come to an end. Our customers and employees are our most valuable asset.
Re: I sold Baremetrics
#20$3.7 million sounds like a lot of money, but he could have earned more than that over 7 years if he just took a mid-level job at a FAMANG company. EDIT: saw that the founder lives in Birmingham, Alabama. So yes, $3.7 million IS a lot of money.
So true. I could have also hated my life for those 7 years. I make a terrible employee. :)
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