- Marc Lore is the CEO and president of Walmart eCommerce in the US. He sold his startup Quidsi to Amazon in 2010, for $550 million.
- Afterward, he felt depressed and somewhat disempowered. Even the huge amount of money he made didn’t help.
- Many startup founders go through a similar experience and say they have mixed feelings about selling their company.
In 2010, Marc Lore sold his startup, Quidsi, to Amazon for $550 million.
Immediately afterward, he felt terrible.
On an episode of Business Insider’s podcast, “Success! How I Did It,” Lore, who is now the CEO and president of Walmart eCommerce in the US, told US editor-in-chief Alyson Shontell what it felt like after the sale.
“You think we would’ve been celebrating, like, ‘Wow, we just made enough money that we never have to work again,’ that sort of thing. ‘Family is set, grandkids are set,’ and everything. And it was this really depressing sort of moment where we didn’t even want to go out for a drink.
“It wasn’t a celebration; it was sort of like mourning. That’s what it felt like. And it was really weird. We were like, ‘Why do we feel so bad right now?’ Like, we just sold this company and made a lot of money, and we just didn’t feel great.”
Lore described feeling somewhat disempowered after selling Quidsi to Amazon. He told Shontell:
“I think a lot of entrepreneurship is about, like I said, having fun building something, being empowered to make decisions and run, build your own unique culture, hire the people you want to hire, watch them grow and develop, and go on to bigger and better things, and learn while they’re there. It’s, like, there’s a lot of benefit of doing it that go beyond dollars and cents.
“And I think that hit us, like, Read More Here