When you sell your business, never ever agree on an earn out
Always get it in cash!
I know lots of horror stories of earn outs and have always rejected them
Poppi's founders just learned the most expensive lesson in M&A!
When they sold to PepsiCo, the deal was for $1.9B plus a $300M earnout (a future contingent payment based on the performance of the brand for some period after closing).
And PepsiCo just announced that it is
Pepsi paid $2bn for Poppi and now says it won't pay the $300m earnout. Everyone's acting surprised.
What happens when a giant buys a challenger brand, with the receipts:
- Honest Tea, Odwalla, Zico: all bought by Coke, all discontinued. Zico's founder bought it back.
- Bai: Dr
One walk, one night, in a single area of a massive city. Well that seems to be enough to describe an entire continent.
We are not generalising at all here.
Pretty sure you know better than that, which makes me feel like you are pushing an agenda. But why?
🇵🇱 Warsaw is Poland's biggest city and it is completely safe at 1am at night
No violent junkies, no drug dealers, no street thugs hanging around harassing women (and men), no pickpockets (nor in the day btw)
No shady people hanging around the train and metro stations
Just
We climbed Krakus Mound in Krakow with @staskulesh!!!
Very cool
I think it's Pagan but nobody really knows why it's here, it's a man made "mound", like a pile of land
It's very old! 🇵🇱
