The "How" after the "Why", Part I
By Stephan on Thursday 16 February 2006, 14:20 - General - Permalink
To continue the story about the purchase of Gandi… told in a simple and direct way. Hoping this will help other people who have a similar project, I’m doing this without pretension or do I have something up my sleeve (and if this is the case, you will correct me, pronto). All the people I see, personally or professionally, will ask me the question, one day or another, I might as well write it on this blog.
One year of discussions / negotiations, dozens of
presentations made for a whole bunch of people who had the financial means we
didn’t (believe me that I regret it), new developments that would cause three
heart attacks a day, in short, a nice adventure which is still going on!
A brief step into the past…
It’s the end of 2004 and I receive a telephone call from Laurent Chemla. He
tells me that the shareholders, aware of their differences and therefore their
incapacity to make Gandi evolve, have taken the decision to sell. Of course,
his request concerns Lycos, which for 4 years hadn’t stopped on this market
(hosting and domain names) in Europe, multiplying purchases and product
releases (we finish 2004 with the second strongest world-wide growth in our
sector…)
At the time, we put out X number of social plans and strategy changes (the
bubble and all that…) and the whole team is tired. Worse, I learn just before
that the latest social plan is going to concern the French site (therefore, us
too), and I already know that my desperate efforts to reverse the decision is
all for nothing. I’ve already lived that.
In a sort of temporary madness, I hear myself answering, "Hmm, Lycos
will without a doubt not be interested, but I will." OK. Cool. Everything
is fine. Just a small concern: Even though I’ve already created a company, it
didn’t require raising funds and only employed two people. Another small
detail: There’s no reason to feel sorry for me and I can look carefully into my
pockets andI don’t have 15 million euros on me. No reason to panic, it’ll all turn
out okay^^.
Of course, I had my bosses (CEO and CTO) confirm that Lycos wasn’t on the case
(despite my recommendation to buy), something I did several times.
Then, the moment comes when I have to pay for my anger (I’m used to it, even if
with age wisdom prevails). It wasn’t that I was worried about the project
itself (I had been thinking about Gandi for years, and I know this still young
market well enough), but it was more about with whom and how?
At this stage, it’s necessary to point out that I wasn’t part of that caste of
magical and glamorous entrepreneurs born in the “Roaring 90s”. There was, in
effect, a barrier between the executives, even the managers, like any other
entrepreneur creating jobs, defining objectives and strategies in order to
reach them, but just seeing a salary and those who have reached, by luck and/or
by will and talent (often a little bit of all three), that quasi-mythical
status in our young companies.
This clarification is important, on the eve of starting to look for financing for an Internet company, in the post explosion of the bubble period …;-).
The first
person I thought of, was nevertheless one of the founders of Multimania, and my
former boss, Olivier Heckmann. We had become friends, something already rare, but
he was part of the group of people who had impressed me in my professional
life. To have so much maturity and insight at his age (like mine, 34 years
old), and in addition to that remaining a GOOD guy, well, that is really really
rare. But, as bad luck would have it, he and his long-time partner (Michel
Meyer), were heading into a project they were
really enthusiastic about and they also were in the middle of
looking for funding…
In this case, we just look at the people around us who combine the double tour-de-force
of being financially loaded, and being someone we really have total confidence
in. I insist on this point, and I’ll come back to it later, it’s essential.
I was lucky enough to know someone, but I really was out of luck, he too was in
the middle of looking for funding for his own businesses (an entrepreneur is
always moving) and could only help me (just like Olivier) with advice and moral
support. That was already enormous and I would be able to verify that every day
over the following twelve months.
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