A startup resembles a business person’s tyke – they made it and raised it to end up what it is. In any case, when an offer for heaps of money seeks it, it tends to be hard to state no. While a few business visionaries may be prepared to give up, others go for broke and hang on.
From Bumble’s Whitney Wolfe turning down a $450 million offer to Evan Spiegel saying no to $3 billion from Facebook, look at these nine business people who turned down acquisitions and proceeded to be to a great degree fruitful.
Quek Siu Rui, the organizer of Carousell, an application for offering utilized products on the web, was offered $100 million for his organization four years back. Propelled by Facebook’s Mark Zuckerberg, who additionally declined numerous offers in his initial days, Siu Rui unquestionably turned down the $100 million offer. Siu Rui presently runs an organization with a $500 million valuation, and plans to grow around the world.
In 2009, Foursquare was conceived, turning into a best social application where individuals could register with areas and take after the whereabouts of their companions. After much achievement, in 2010, Facebook offered to purchase Foursquare for $120 million and Yahoo purportedly offered it between $100 to $120 million. Foursquare’s then-CEO Dennis Crowley declined and countered these offers with a higher number, which the two organizations turned down. Fortunately for Foursquare, after a noteworthy turn in the course of recent years into a major information organization, the business has accomplished significant development. Actually, for as long as three back to back years, the organization has seen 50 percent income development year over year, and in 2017, it was esteemed at $317 million.
Almost 10 years back, Tom Alexander propelled PK4 Media, which at the time was the promoting business’ first omnichannel media organization. It wasn’t after a short time that PK4 Media turned into a multimillion-dollar business, serving, checking and gathering information over all stages – in the nick of time for the promotion of portable. All through his residency, Alexander got offers for the organization, some upwards of $30 million, however he turned every one of them down so he could keep seeking after his vision for the organization. Later procuring three organizations and arriving on different best records including Forbes’ Most Promising Companies and Los Angeles Business Journal’s Best Places to Work, it’s sheltered to state Alexander settled on the correct choice.
In 2008, similarly as Twitter was getting in fame, Facebook offered $500 million for the social stage. Notwithstanding, with just $100 million of that offer in trade and the rest out investment opportunities, and with enormous plans to develop and open up to the world, Twitter turned down the arrangement. In 2013, when the organization opened up to the world, it was esteemed at an astounding $24.4 billion. These days, on account of President Donald Trump, Twitter’s stock is up 115 percent over the previous year.
Espresso Meets Bagel
Amid a 2015 scene of Shark Tank, business visionary sisters Arum, Dawoon and Soo Kang turned down a $30 million offer from Mark Cuban to purchase their startup, Coffee Meets Bagel, a curated dating application that matches individuals in light of their Facebook profiles. After three years, the organization is presently esteemed at $82 million and as of late extended from San Francisco to Seattle.
In 2013, it was accounted for that Facebook attempted to purchase Snapchat for an astounding $3 billion. Turning down the offer, Snap prime supporter Evan Spiegel chose to clutch the application, which was esteemed at more than $10 billion of every 2014. While Snap’s stock cost may be low now, its authors are doing fine and dandy. Today, Spiegel’s total assets is an astounding $2.9 billion, as per Forbes.
The ladies first dating application Bumble is another organization to turn down a noteworthy offer – truth be told, a $450 million offer. Simply a year ago, author and CEO Whitney Wolfe was drawn closer by Match Group with almost a large portion of a billion dollars to purchase out her organization. She gave them the thumb’s down. With a valuation of more than $1 billion, it’s protected to state the organization is doing fine and dandy.
In 2013, programming organization Qualtrics’ CEO Ryan Smith turned down a $500 million procurement offer for his organization, notwithstanding when it was simply producing $50 million in income at the time. Quick forward five years, Qualtrics is presently esteemed at $2.5 billion. Generally speaking, the estimation of his organization has expanded by in excess of 150 percent since 2014.
Today, shipping coordinations organization Flexport is esteemed at almost $910 million, has in excess of 700 workers with seven workplaces worldwide and was incorporated on Forbes’ Next Billion Dollar Startups list in 2017. Before that however, the organization turned down numerous $1 billion-dollar-in addition to offers. Flexport keeps on growing and the organization hopes to reach $500 million in income this year.