Howard Marks
👤 Speaker
849
total appearances
Appearances Over Time
Podcast Appearances
SaaS Interviews with CEOs, Startups, Founders
1107 Activision Blizzard CEO: ICO's are Just Like Selling Digital Swords in Mortal Combat!
So we paid that, I think, 400 grand.
SaaS Interviews with CEOs, Startups, Founders
1107 Activision Blizzard CEO: ICO's are Just Like Selling Digital Swords in Mortal Combat!
It was public.
SaaS Interviews with CEOs, Startups, Founders
1107 Activision Blizzard CEO: ICO's are Just Like Selling Digital Swords in Mortal Combat!
You're allowed to make a private transaction with a public company.
SaaS Interviews with CEOs, Startups, Founders
1107 Activision Blizzard CEO: ICO's are Just Like Selling Digital Swords in Mortal Combat!
The stock price was under a dollar.
SaaS Interviews with CEOs, Startups, Founders
1107 Activision Blizzard CEO: ICO's are Just Like Selling Digital Swords in Mortal Combat!
It was bleeding.
SaaS Interviews with CEOs, Startups, Founders
1107 Activision Blizzard CEO: ICO's are Just Like Selling Digital Swords in Mortal Combat!
So we paid the... We actually got a huge discount from the VC as well.
SaaS Interviews with CEOs, Startups, Founders
1107 Activision Blizzard CEO: ICO's are Just Like Selling Digital Swords in Mortal Combat!
They didn't charge us with the stock price because it was illiquid.
SaaS Interviews with CEOs, Startups, Founders
1107 Activision Blizzard CEO: ICO's are Just Like Selling Digital Swords in Mortal Combat!
You know, if you went out and said, I want to buy that much, the price would go way high, right?
SaaS Interviews with CEOs, Startups, Founders
1107 Activision Blizzard CEO: ICO's are Just Like Selling Digital Swords in Mortal Combat!
So as a private transaction, it worked great.
SaaS Interviews with CEOs, Startups, Founders
1107 Activision Blizzard CEO: ICO's are Just Like Selling Digital Swords in Mortal Combat!
Anyway, we paid 400 grand, 30%.
SaaS Interviews with CEOs, Startups, Founders
1107 Activision Blizzard CEO: ICO's are Just Like Selling Digital Swords in Mortal Combat!
Then we sent a fax.
SaaS Interviews with CEOs, Startups, Founders
1107 Activision Blizzard CEO: ICO's are Just Like Selling Digital Swords in Mortal Combat!
At that time, you didn't have email.
SaaS Interviews with CEOs, Startups, Founders
1107 Activision Blizzard CEO: ICO's are Just Like Selling Digital Swords in Mortal Combat!
We sent a fax to the CEO.
SaaS Interviews with CEOs, Startups, Founders
1107 Activision Blizzard CEO: ICO's are Just Like Selling Digital Swords in Mortal Combat!
I know.
SaaS Interviews with CEOs, Startups, Founders
1107 Activision Blizzard CEO: ICO's are Just Like Selling Digital Swords in Mortal Combat!
I'm 55.
SaaS Interviews with CEOs, Startups, Founders
1107 Activision Blizzard CEO: ICO's are Just Like Selling Digital Swords in Mortal Combat!
Anyway, we basically...
SaaS Interviews with CEOs, Startups, Founders
1107 Activision Blizzard CEO: ICO's are Just Like Selling Digital Swords in Mortal Combat!
sent the facts.
SaaS Interviews with CEOs, Startups, Founders
1107 Activision Blizzard CEO: ICO's are Just Like Selling Digital Swords in Mortal Combat!
The guy was like, who are these people?
SaaS Interviews with CEOs, Startups, Founders
1107 Activision Blizzard CEO: ICO's are Just Like Selling Digital Swords in Mortal Combat!
And we made a deal with the CEO saying, look, we want you out.
SaaS Interviews with CEOs, Startups, Founders
1107 Activision Blizzard CEO: ICO's are Just Like Selling Digital Swords in Mortal Combat!
We want to change the board.