After exiting TimeSlips, Mitch Russo launched his own venture vehicle, Assist Ventures, to angel invest in early-stage companies.
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“So I invested in, in about 19 different startups, all in the 25 to 50 K range. I had set aside a half a million dollars of my own money. Just to invest in startups.”
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More from Mitch Russo
AssertionNot checkable as stated
Russo: VCs rejected him for portfolio CEO roles at age 44
“I was too old. I was 44 years old. They were looking for twenty-something guys to run their companies.”
Mitch RussoFeb 9, 2018▶ 6:11930 How a $10m Software Guy Ends up In Furniture Business and Tony Robbins
AssertionNot checkable as stated
Russo: 92% of training program buyers never finish the course
“Everybody who's ever bought a training program in the universe, 92% of those people have never finished that training program or never got the benefit.”
Mitch RussoFeb 9, 2018▶ 13:41930 How a $10m Software Guy Ends up In Furniture Business and Tony Robbins
“Well, I mean, they were paying 18, 15 to 18 times profits at the time. So we were, you know, we were looking for probably two times sales, which was unusual. Only crazy companies got two times sales.”
Mitch RussoFeb 9, 2018▶ 3:51930 How a $10m Software Guy Ends up In Furniture Business and Tony Robbins
Disclosure
Russo: Offered to return $2.5M of unspent $4M raise to VCs
“I still have About two and a half million of cash in the bank. Nathan Latka: Of how much that you raised? Mitch Russo: Four million. I said, you should take it back.”
Mitch RussoFeb 9, 2018▶ 10:45930 How a $10m Software Guy Ends up In Furniture Business and Tony Robbins
AssertionPartly supported
Russo: TimeSlips Did $5.6M in Revenue When Acquired by Sage in 1994
“Revenue was about 5.6 million.”
Mitch RussoFeb 9, 2018▶ 3:43930 How a $10m Software Guy Ends up In Furniture Business and Tony Robbins
AssertionSupported
Russo: Sold TimeSlips to Sage for $10.5M in 1994
“No, we sold for 10 and a half million.”
Mitch RussoFeb 9, 2018▶ 4:18930 How a $10m Software Guy Ends up In Furniture Business and Tony Robbins
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