Mail chimp has participated in this concept of profit sharing for years. Up to 19 % of employ s annual salaries being put into their four o one k each year. And hundreds of millions of dollars have been contributed through this profit sharing programme over the last several decades. But as a bootstrap business, you oftentimes don't know if you will sell, or if you want to sell in the future. Employees would actually be really pissed if they were issued stock or stock options by the business and had no interest in selling.
Mailchimp 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 classic episode, I walk you through the history of the company and lessons we can all learn from its meteoric rise.
Check out full 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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