Rewind #1: How to Sell a Failing Company for $100 million
Suli Ali is one of the most interesting founders we’ve had on the pod. Suli and his brother Moiz have started and sold $300m worth of companies. They’ve also invested in hundreds of big-name startups, thousands of real estate deals, and much more more. He built small, silly apps. Like a Facebook app survey where you voted “most likely to wear a bunny costume”. Yet...it turned into a huge success. How? When he sold his first company, it was doing $85 million in revenue and $15 million in profit. In this episode, we discuss his journey from making $76k a year at Microsoft to selling his first company for $100,000,000+. --------- * Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://www.mfmpod.com/p/hotline/ * Support the pod by spreading the word, become a referrer here: https://refer.fm/million * Have you joined our private Facebook group yet? Go to https://www.facebook.com/groups/ourfirstmillion and join thousands of other entrepreneurs and founders scheming up ideas. --------- Show notes: * 8:05 - Shaan predicted this podcast would be successful...he was right! * 9:55 - Suli’s parents encouraged him to start a company...and why that’s important. * 24:25 - Meeting Naval - is he legit? * 27:25 - Getting grilled by Keith Rabois * 41:25 - Listen to Suli’s confidence and how he explains starting stuff and how he deals with downs. * 1:02:25 - Risking his life savings to make his company work (then selling it for $100m).
Hosts: Sam Parr & Shaan Puri