Everything Will Herman said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Herman: Build In-House When Strategy Is Core; Acquisitions Fail To Integrate
“When what you're working on is sort of core to your long-term strategy I feel like there's no, no better value of developing that in-house, of creating that yourselves, because you can't get your hands around the technology, or the customers, or the employees,…”
Herman raised $60M venture funding to buy back $120M of Viewlogic revenue
“A year after we sold it, we bought back about 75% of the revenue, 80% of the revenue of the company in an MBO and then ran that company. Oh, it's a management buyout. We actually got venture funding about 50 or sixty million dollars and bought the bought about…”
Herman: Raising venture capital locks founders into pursuing an exit
“Most people don't realize that once you take venture capital, you are stuck. You're going for an exit, and that's what everybody wants.”
Herman: Unmotivated founders should directly ask investors to wind down
“Speaking as an angel investor, no investor wants to be involved in a company that the founders don't want to be involved in. So, you know, it's just going to take a long time to die, and it's going to be a long, painful death. So, so the best way, as hard as i…”
Herman: Quintus grew to $60M revenue and IPO'd before collapsing
“That was an actually an investment, not one that I was active in, although I did help the VCs spin it out of a of another company. Company was called Quintus. High flyer went from nothing to sixty million in revenue, went public.”
Herman lost nearly $500,000 in his Quintus investment
“I had I had pretty close to half a million dollars.”
Herman: Viewlogic IPO'd in 1991 and Sold for ~$500M in 1996-1997
“We started that in 1984, took it public in 91 sold it in 9006 or 97. About a half, it was about a half billion dollar deal.”
Viewlogic burned up to $30M building CAD tech before abandoning it
“Over time, we probably put, you know, 20 or thirty million dollars into building the product. Eh, maybe that's a little high, but not, that's the order of magnitude. It's pretty close.”
Viewlogic eventually acquired a CAD tech competitor for $60M in stock
“Stock deal. It was probably, probably worth 50, 50 or sixty million at the time.”
Herman: Viewlogic Had $160M-$175M TTM Revenue at Acquisition
“Trailing 12 was probably 175,000,160 million.”