Say No to Resume Request without a Term Sheet
In the first 2 years of our startup, several BigCos engaged with us in acquisition discussions. At that stage, an acquisition would have amounted to more of an aquihire than a normal acquisition.
These early discussions were aimed at low balling our talented team into joining their BigCo, bringing along the IP we had begun to generate.
In each case, the BigCo would request that we send over the resumes for everyone in the company. That became a clear sign to us that they did not have the desire to conduct a legitimate acquisition. They just wanted our team to join.
An acquihire outcome was never appealing to us. We had no desire to share the details of our team’s credentials without a term sheet in hand.
What acquisition-related experiences has your startup had in its first 2 years?
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