To me, the focus on "exit" does imply moving away from involvement with the business (in how the phrase sounds, and most importantly, in how it seems to be most often used). The terminology of "exit" and the implicit need for an "exit". I'm just confused by two interlinked things. (Selling it wholesale does in any industry) I know selling a piece of your business involves diluting your control, but it is nearly always contractually required to not involve an "exit" (in terms of involvement) outside of tech. I'm not even naively proposing that it's somehow bad to sell a profitable business in this way. I don't think elsewhere it's called an "exit strategy" to seek financing, be that IPO, Shark Tank, or the much more common and mundane options. I totally get that my demographic spends less over the bar than the crowd he’s so good at attracting, but he’s ruined two of my local ex-favourite pubs in the last few years, and over decades he’s turned some of my favourite music venues in things like trashy Mexican restaurant/bars.īut yeah, even as successful as he is in his field, I doubt it’ll get him into the three comma club. Often they’ll barely change for a few years, while the demographics around them shift, then one day they’ve suddenly been renovated and there’s a queue of b-grade celebrities all dressed up and lined up around the block waiting to get in every weekend for a month or two. He seems to have an uncanny knack for having bought a good sized venue a year or two before, in every area that becomes cool and popular. While I really don’t like the changes they eventually make to most places they buy, I have a grudging respect for the business acumen of Justin Hemmes the owner. The big one, Merivale, seems to have practically unlimited money to throw at interesting or struggling venues. There’s a few smaller operations doing it as well.
It was never going to be a unicorn, but who cares?Īround me in Sydney, there is a major “hospitality group” that’s spent the last 10+ years buying up bars and pubs. I'd absolutely describe it as a sustainable lifestyle business that had a good long-term trajectory. The technical founders I'm less sure about, though apparently at least one of them had already moved on. The same is true of Mark Hall, their VP of Product (who started 5-ish years ago, if I recall). Their strategy was clearly not to take over the world, but to carve out a niche and not bother to directly compete with the streaming platforms (which helps to explain, for instance, the incredibly rudimentary mobile player app).Īs for the senior management, Diamond had already previously started and sold a company. Given their claim of 207M to artists last year and their touted 18% average rev share, we can guess they were generating around 50M per year gross, which is a very healthy cashflow for a company that size. At the time of acquisition they were sitting in the 100-150 headcount range, which is modest for a company that's almost 15 years old. If you look at their staff growth, it's been very slow and very steady.
MISERY SIGNALS DISCOGRAPHY FLAC SERIES
Yeah, as far as I can tell, they took a seed round and a series A and have been profitable since. Shortly after its release, Bluehole expressed concerns about the game, acknowledging that while they cannot claim ownership of the battle royale genre, they feared that since they had been working with Epic for technical support of the Unreal engine, that they may have had a heads-up on planned features they wanted to bring to Battlegrounds and could release it first. Known as Fortnite Battle Royale, Epic later released it as a standalone free-to-play game in September 2017. > Notably, Epic Games updated their in-development title Fortnite, a sandbox-based survival game that included the ability to construct fortifications, to include a battle royale mode that retained the fortification aspects. They reportedly worked with Epic Games on technical support for PUBG features, and Epic Games may've ended up using some of them in their own Battle Royale mode: look at what happened to PUBG when they used Epic's engine
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