life is long, depending on your age, you may find yourself with a change of mind after a few years. If you’re hoping to settle down after this deal, you might be better off trying to raise company value to 2-3M which is possible to live off of long term with dividend investing and a stable portfolio.
A smart man once told me that when someone offers a life changing amount of money for something you’ve built, take it. It’s a rare opportunity and you’ll still have plenty time left to build something new once more.
Totally normal, if you flake on the purchase it could ruin his business as now all trust is gone between him and his employees. M&A is always secret until the deal is announced publicallym
Not choosing A grade co-founders who I could rely on. Cost me 2 startups over 7 years to learn that lesson. 3rd time around I found amazing partners who are mature, responsible and can be trusted on their own.
Investor fucked up the liq pref clause lol, it’s literally supposed to disincentivize this scenario. Anyway, you do you, but you lose the trust from those investors who lost out and possibly anyone in their close network.