A tech entrepreneur sold Webshots for $80 million, bought it back for almost nothing, sold it again for $20-30 million, then bought it back once more. The hosts explore a business idea: an undertaker service that acquires dying tech companies and handles their liquidation, talent, and legal wind-down.
I think he sold it for $80 million and then he bought it back. I actually should bring this guy in. I have an investor and a good friend of mine. I cold emailed him and we became friends. He invested. He started a company called Webshots and I think he sold it for $80 million and then he bought it back. Yeah, if those guys come in, you can bring them in. He bought it back for pennies. And then sold it again for $20 or $30 million, and then now has bought it back again. And he was like, you guys, uh, or you know what, something would be interesting is if you could be like a graveyard or an unwinding service.
Undertaker, he called it.
An undertaker where you can just buy these dying things. And that exists.
I mean, that's what— it's a service to basically wind down your company. You take a fee and you do the sort of fire sale. And I'm sure there's services out there like this, but Somebody could specialize in tech companies, wind down both, you have talent, you have hardware, you have, uh, you know, assets that you're trying to fire sale off. And then you have all the normal business closing stuff you gotta do so you don't get like taxes next year. Um, because you have to actually shut down your company officially and nobody wants to do that. It's not fun. And investors wanna make sure that that process is done with no like funny business so that they like maximize the value.
