Here’s a thread about the guy who rejected a 6B$ offer and then got sacked by his own company.
A

In just four years after it’s launch Andrew Mason turned his Wordpress blog into an empire only to have it slip through his fingers.

So here’s what Andrew did
He got a music degree.
Then realized he couldn’t make money with a music degree.
Decided to teach himself coding 1/

Got an internship designing websites, got pretty good at it.

Pitch the idea of a website to your coworker.

Go back to school to study politics a different trajectory all together.

Get a call back from that old Coworker, he likes the idea and wants to build on it. 2/

A few weeks later raised a million dollars for your idea

Takes a couple on months building and perfecting it.

Finally launches the idea, fails, starts panicking and pivots in desperation.

See that take off

Hire 1000 people over the next year.

Raise a billion $ 3/

Take out 200million in the company for yourself and spend that.

Grow at insane rates, even faster than Facebook at a point. So yeah, that fast.

Receive a 2 B dollar bid from yahoo, reject that.

Receive another 6 B dollar bid from google , reject that also.
4/

Starts looking for methods to over inflate the value of the company, using a new accounting method to do so.

Gets the valuation to 30 Billion$
Any guesses as to who it is yet?

Get forced to do an IPO by your board.

Public hates you, worst CEO of the year. Stock tanks 80% 5/

Get sacked and become a musician.

Meet Andrew Mason co-founder of Groupon.

So here’s why it failed, it was never supposed to take off in the first place, the model was flawed , it didn’t have an actual path to get bigger and profitable. Just a big pump and dump :/