Eric Min
๐ค SpeakerAppearances Over Time
Podcast Appearances
So I was about 30 years old.
So that was over a decade.
Um, and so that, that went on for some time.
Uh, so that was an interesting business enterprise.
Um, and you know, it was a tough, we learned a lot of lessons that we were able to monetize the business, which is great.
A lot of us would do something fun as Zwift, but, um,
You know, enterprise businesses is tough, capital intensive.
And if you're not clever, you don't walk away with very much at the end.
So we were sitting on what amounted to a hundred million dollar contract.
So we had a, you know, we had a decision to make.
Do we reinvest the proceeds of a highly profitable contract?
Do we reinvest it and try to compete and scale our business?
Or do we call it a day and say, let's just take as much of that off the table?
We took a tough decision, and it took us five years to take a lot of that off the table.
Right.
In order to return eight times, investors received eight times their money.
Yeah, so we were fortunate to be able to extract cash out of that business because if I look back, it was incredible in a market that was shrinking that more competitors were coming into the space.
We just knew at that point it was time for us to leave.
And the difference between the number one vendor versus us ranked in the top five was
was just insurmountable difference in terms of, you know, the power that a leader of a particular vertical had.