The Ledger
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DeMuro: Investing heavily in single-creator businesses is a crazy model
“They're making massive investments into businesses that have dudes like me who could just go off the rails one day. And I think that is a crazy business model”
Espiritu Took Secondary and Kept Warehouse Real Estate in $17M Round
“I was able to take some off, which was great... I was like, you know what, I'm paying these guys, like, 30, 40 K a month in fulfillment fees. Why don't I just, like, start a separate company, buy a warehouse, and then become my own tenant, and, like, build equ…”
Parr: DeMuro sold majority of Cars & Bids for $40M
“And then recently you sold the majority of the business to churning group for around forty million dollars. I believe when it was only like two or three years old.”
Shaan Puri: The Chernin Group invested $20M into Epic Gardening
“I go and I'm like, hey, dude, I will write you a big check. Like, let me fund you. I really believe in you. He's like, we're all good on funding. Chernin gave me like, I don't know, whatever, twenty million bucks like a year ago.”
Espiritu: Epic Gardening acquired Botanical Interests despite significantly lower bid
“We were not the highest bid by, like, quite a bit, I would say. A material amount for the sellers to, like, not have in their pocket if they went with us.”
DeMuro used cash from the Chernin deal to buy a Porsche
“I took money off. I bought that career GT and so it was a nice situation for me to be able to do that, especially after a lot of hard work.”
DeMuro: The Chernin Group specifically targets creator-led businesses
“I wasn't familiar with the churning group, but they told me that they specifically work with creator led businesses. And that was a huge, like light bulb moment for me because my big fear of working with any PE or VC companies, they're going to come in and the…”