Turning Down the Big Offer: A Pivotal Startup Moment

This chapter explores the critical decision a startup faced when they chose to decline a $200 million buyout offer. It reflects on the challenges of staying true to their mission, emphasizing the importance of creating a meaningful impact over mere financial success.

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In this episode of The Eric Ries Show, I’m joined by Matt Mullenweg, CEO of Automattic and co-founder of WordPress, the open-source platform that now powers 43% of the internet.

Recorded on the 20th anniversary of Automattic, our conversation is a deep dive into what it takes to build enduring companies on top of open infrastructure. We explore Matt’s open-source philosophy, why WordPress has stayed true to its roots, and how Automattic continues to innovate, from pioneering remote work to rethinking compensation models.

In our conversation today, we talk about the following topics:

• The early days of WordPress and its open-source fork from b2/cafelog

• Why trust is a company’s greatest asset—and how open source fuels it

• The overlooked power of open standards like RSS

• How open source moved from fringe to mainstream, and is even embraced by Microsoft

• Why Automattic started remote-first in 2005, long before it was common

• How global salaries help Automattic attract and retain top talent

• Automattic’s alignment offer that reinforced team commitment and focus

• What Matt’s excited about in AI

• And much more!

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