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by duxup 814 days ago
That may be the CEOs intent, but if they have share holders and someone shows up with money it isn’t entirely the CEOs call. They have a responsibility to produce returns and if an offer is better than what they can do without selling their obligation is pretty clear.

I’ve known some folks who I believe really wanted to grow a company but when faced with an offer to buy it they didn’t feel they could survive a legal challenge arguing that they should sell.
3 comments
rubymamis 814 days ago
They are bootstrapped and committed not to take VC money[1].

[1] https://stephango.com/vcware

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pseudo_meta 814 days ago
Obsidian does not have any shareholders. It's a team of 6 people, and the sole owners are the two original founders.
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cqqxo4zV46cp 814 days ago
It’s 2024. By this point we all know how this ride goes. So if a founder states that they’re targeting sustainable long-term growth, and that intent isn’t reflected in how they’ve taken on investments, they’re flat-out lying. There’s simply no excuse to be that utterly naive. The Obsidian mob seem very switched on, and their public headcount isn’t remotely indicative of VC-funded hyper-growth. It looks like they’re doing everything right.
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duxup 814 days ago
My point being that even if the CEO intends long term growth, it may not matter.

People’s perception regarding the CEO is telling the truth or not is largely irrelevant at that point.

If the offer is big enough their hands are often tied due to their obligation to the rest of the owners.

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