Built to Sell Radio
Ep 459 Alex Bean on Why He Was Miserable After Selling Divvy for $2.5B: Raising Capital vs. Going It Alone, Talking to Kids About Money, the Happiness Trap, and the Disease of More
Sep 13, 2024
Alex Bean, founder of Divvy, sold his company for $2.5 billion but found himself grappling with unexpected emotions post-sale. He discusses the misconceptions of happiness tied to financial success, emphasizing the emotional complexities of navigating life after a monumental exit. Bean shares insights on raising capital versus maintaining control, the significance of teaching kids about fiscal responsibility, and the importance of redefining success beyond mere wealth. His journey highlights that true fulfillment comes from meaningful relationships and purpose.
52:01
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Quick takeaways
- Alex Bean emphasizes the emotional challenges entrepreneurs face after a sale, highlighting the importance of re-evaluating personal identity and purpose.
- He warns that not all businesses require venture capital, advising entrepreneurs to carefully consider market potential and the impacts of dilution.
Deep dives
The Journey of Divi and Its Impact
Divi, a smart credit card system designed for small businesses, helps automate expense management and stay within budget, revolutionizing the spending process. Alex Bean faced skepticism when presenting his innovative idea, as concepts like Venmo were still emerging. Nevertheless, he successfully raised substantial venture capital to compete with established giants like Amex, ultimately leading to a $2.5 billion sale. This transformation from a startup facing doubt to a major player reflects the potential for disruptive innovation in traditional sectors.
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