Malchimp has participated in this concept of profit sharing for years. Up to 19% of employees annual salaries being put into their four o one k each year. Hundreds of millions of dollars have been contributed through this profit sharing programme over the last several decades. As a bootstrap business, you oftentimes don't know if you sell, or if you want to sell in the future. And so basically, employees would be holding on to stock for 30 plus years with no way to turn it into cash.
Mailchimp recently sold for $12 billion to Intuit, the small business powerhouse that owns Quickbooks, Turbotax, Credit Karma, and Mint. This deal is the largest ever acquisition of a privately-held bootstrapped business. In this episode, I walk you through the history of the company and lessons we can all learn from its meteoric rise.
Check out episode transcripts at https://foundersjournal.morningbrew.com to learn more, and if you have any ideas for our show, email me at alex@morningbrew.com or my DMs are open @businessbarista
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