The Ledger
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Wilkinson: Pixel Union started for $20K and went public for $260M
“So basically started it for 20 K, sold it for about seven million. And then I ended up buying it back from the guys who bought it for twenty five million. And then about a year later, we took a public for two hundred and sixty million.”
Wilkinson: Repurchased Pixel Union for $26M and Took It Public at $260M
“I think it was doing about four million dollars of annual profits. It had grown a lot. And we paid 26 and then we bought four 60 and a couple other businesses. And then we took it public at a two hundred and sixty million dollar valuation.”
Wilkinson Sold Pixel Union for $7M With $3M Upfront
“And so I ended up getting an offer to sell that business for seven million bucks. And it was three million upfront, one and a half earn out, and then the rest in stock in the new business.”
Wilkinson: Agency and Pixel Union Achieved 30-50% Margins Versus 2-3% in E-Commerce
“Whereas in my agency or in pixel union, I was making. 30 to 50% EBITDA margins. I was making like two or three percent and the amount of work required to move physical goods around by inventory. I realized that while on paper I was profitable, I was constantly…”