Scott Duffy chose 20% equity over cash in the Virgin deal
Scott Duffy · 723: He Sold His Company to Richard Branson, Then Oil Tanked Him · Jul 17, 2017 · at 5:47
Scott Duffy, founder of Smart Charter, discusses deal structure and how he negotiated equity rather than a cash exit when partnering with Virgin Group.
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“The way that smart charter work is instead of taking money out, I decided to go all in and just had to take more equity. So when we did the deal, so I had, you know, there, there's some things I can't say because of confidentiality, but I had a good chunk, you know, I had 20 plus percent.”
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“Oh, I was, it was like a 450,000 dollar deal.”