Top Hat investors bought a majority stake to provide Silagadze an exit
Mike Silagadze · Mike Silagadze, Founder of TopHat ($200M+ Raised) | How to Start your Second Startup · PMF Show · Feb 15, 2023 · at 12:38
Mike Silagadze discusses the circumstances behind his 2020 exit as CEO of edtech company TopHat after 11 years of scaling.
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“We had an acquisition offer come in that was pretty, pretty compelling and that prompted kind of a conversation around you know, other options other than just selling the business to you know, public acquirer. I think you can talk about this. One of our, you know, one of our investors stepped up and said, well, why don't we, rather than selling to an acquirer at a certain valuation, why don't we actually take a majority share of the business and then, you know, you can have an exit and the business can continue on.”
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