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by sumit_psp
4693 days ago
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Maybe you're right. Now I'm curious as to how he bought his shares back from his ex-partners. "Dumb mistakes that cost me close to $5 million dollars when it came time to buying out ex-partners." If it's just affiliate revenue there is no way, the company had $5 million dollars in cash. He couldn't have sold shares since he said he has "total 100% ownership" of the company. He also mentions he never got a loan or an investment. Maybe it's just a missed business opportunity. |
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The company reached the the 15M in sales only 1 or 2 years ago - they were much smaller earlier. So there is no way $5M in cash. Also, knowing how the company used to function, I think Mike Reining was really important to its growth, so it's really unfair to ignore his input.
If you look at the company story, at the time Mike had a really great career - working for Boston Consulting Group and later as the Head of New Ventures at eBay, where he worked on the Skype takeover (Google his Linkedin profile). It was Vishen who was chased out of the US with the green card/visa requirements and Mike just was the only person who decided to team up with him, drop his position at eBay and set off to Malaysia to do something fresh.
It's safe to say it wouldn't happen without the German guy at all.