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A Look Back At Yahoo’s Flickr Acquisition For Lessons Today | TechCrunch
[The Future is uncertain & Vague"] .... Flickr decided in January 2005 to take the Yahoo offer — reportedly for $35 million. There were too many compelling reasons to take the offer during what was still an uncertain time. Because it was early in the growth of tech startups after the dot-com crash, Flickr missed some of the up-tick in the market, as others sold for more when the market took off: Myspace sold to News Corp. for $580 million in July 2005 and later YouTube, which Google acquired in October 2006 for $1.65 billion in stock. “We definitely made the wrong decision in retrospect. We would’ve made 10 times [what we did]. But it’s not like I regret it,” Butterfield says. How can something be a mistake and also be completely correct? The sale left potentially 10 times more on the table. But Butterfield doesn’t regret it because he believes they made the right decision knowing what they did at the time. And he and other team members have all gone on to do well at other ventures.
Flickr  Yahoo!  M&A  Start-Up  lesson  Start-Up  advice  incomplete  information  complexity  unknown  unknowns  acquisitions  acquisition  Silicon  Valley 
august 2014 by asterisk2a

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