AcquiredI can stay on as CEO for as long or as short as I like. No management contract. The price you're gonna pay for the company is three times what you offered me a couple years ago. We're gonna put all this in contract. It is going to be a one page deal. No diligence, no definitive merger agreement, BS. That's it. One page with these points. I will draft it. Sign the paper if you like it. Pay me and my employees the money or no deal.
“Four, the price you're gonna pay for the company is three times what you offered me a couple years ago.”
I can stay on as CEO for as long or as short as I like. No management contract. It is 100% up to me. Four, the price you're gonna pay for the company is three times what you offered me a couple years ago. And then number five, the real kicker, we're gonna put all this in contract. It is going to be a one page deal. We're gonna put these deal points in here. One page contract, no diligence, no definitive merger agreement, BS. That's it. One page with these points. I will draft it. Sign the paper if you like it. Pay me and my employees the money or no deal. And Tayo says, great.
Why this clip
This is pure entrepreneurial confidence and negotiation genius. Joe Coulombe's take-it-or-leave-it deal terms are incredibly quotable and show the power dynamics of a founder who knows their value. The contrast between typical complex M&A processes and this one-page handshake deal is striking.
What they said next
Seven Eleven became so successful in Japan that in the nineties, Seven Eleven Japan bought out the Seven Eleven parent and now own the company. Seven Eleven today is a publicly traded Japanese company on the Tokyo Stock Exchange founded in Dallas, Texas that operates the largest global retail chain in the world.
8:47 - 26s · Consequences
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