Ethan Anderson
๐ค SpeakerAppearances Over Time
Podcast Appearances
Yeah.
Again, I'm not supposed to talk about that either.
I wish I could.
But they made a sign confidentiality agreements.
Well, you know that, I'll say this, you know that VCs always want a minimum 10x return, right?
Yeah, usually, yeah.
You know, otherwise, and the VCs were supportive and they would have reinvested in a Series B and given us additional capital if we wanted to go in that direction.
So for them to be supportive of a sale after just one round of financing, you can imagine that, you know, they have a goal of hitting a 10x return.
Got it.
Right.
You know, companies get bought, not sold.
And so Home Depot came to us.
They were very serious about acquiring it.
They'd met with us a year before.
They were tracking us very closely.
And they felt that this was their chance to build a Walmart Labs on the West Coast.
You know, if you're familiar with Walmart Labs, it's been very successful.
Home Depot wanted something like that.
And they lacked technical talent in Atlanta where they're based.
And they thought, you know, this is a fantastic company.