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Technology, Industry, Residential Real Estate

October 4, 2018

Selling a Business to the Wrong Buyer

In 2008, at Point2 (I was CEO at the time), our Technology Mission was to Develop the Operating System that Powers the Global Real Estate Industry.

Choosing an Operating System

We chose a style of Operating System to help us focus on being the facilitator that enables real estate data to be shared, homes to be sold, and applications to be developed.

Our long-term mission was not to be the inventor and creator of every application needed by the real estate industry, but rather to do whatever is necessary to make doing that easier for other companies by using us as the operating system. We wanted to create an ecosystem of innovation for the real estate industry.

We then sold the company to an entity that had other ideas about what to do with the assets of Point2. That was a big lesson learned for me, you can sell a company to the wrong buyer, a buyer with a different mission and vision.

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