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My First Million
I was offered $200M at 24 and I turned it down
Jan 31, 2025
Matt Mullenweg, founder of WordPress and Automattic, shares his incredible journey, including the bold decision to turn down a $200M offer at just 24. He reflects on WordPress's early struggles and its rise to dominance, as well as the competitive battle between WooCommerce and Shopify. Mullenweg discusses the ethical implications of open-source software and highlights innovative hiring practices that prioritize writing skills over traditional qualifications. His insights offer a fascinating look at the intersection of entrepreneurship and community-driven technology.
46:08
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Quick takeaways
- Matt Mullenweg's decision to turn down a $200 million acquisition at 24 stemmed from a belief in WordPress's long-term potential to grow.
- The acquisition of WooCommerce significantly enhanced WordPress's value proposition, allowing it to evolve into a dominant e-commerce platform.
Deep dives
Turning Down $200 Million
At just 24 years old, Matt Mullenweg turned down a $200 million acquisition offer for his company, WordPress, believing in its potential for greater growth. He initially faced challenges managing ownership structure and funding as a young entrepreneur, living on ramen while striving to scale his business. The decision was guided by the conviction of building something larger than himself, and he later utilized part of the valuation to fund new growth and clear personal debts. Through this experience, he learned to balance the financial allure of a quick exit with the long-term vision of creating lasting impact.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode