Gamestop buys FaZe for $17M (prev $725M); Better.com 97% down, Hopin sells for $15M after raising $1B; Hello Bello bankrupts #2605

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Careers, Business, Marketing

4.6 • 1.3K Ratings

🗓️ 10 November 2023

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

In episode #2605, We discuss recent acquisitions and business failures in the current market. We highlight the importance of discipline and patience when considering acquisitions, as well as the need to thoroughly evaluate the potential risks and liabilities involved. We also emphasize the advantage of founder-led businesses during challenging times, as founders are often more willing to grind it out and find creative solutions. We caution against rushing into deals and stress the need for thorough due diligence to avoid costly mistakes. Don’t forget to help us grow by subscribing and liking on YouTube! Check out more of Eric’s content (Leveling UP YT) and Neil’s videos (Neil Patel YT) TIME-STAMPED SHOW NOTES: [00:00] Today’s topic: Gamestop buys FaZe for $17M (prev $725M); Better.com 97% down, Hopin sells for $15M after raising $1B; Hello Bello bankrupts [00:30] Discussion about GameStop's acquisition of Phase Clan [00:38] Mention of a company called Better and its acquisition [00:53] Introduction to Hello Bellow, a diaper company [01:17] Hello Bellow's financial struggles and liabilities [02:22] Non-private equity-backed companies performing well [03:16] Founder-led businesses thrive in tough times [04:13] Founders stepping back into their businesses [04:52] Fire sale prices and lack of VC investments [05:43] Caution when buying at fire sale prices due to hidden costs [06:46] That’s it for today! Don’t forget to rate, review, and subscribe! Go to https://www.marketingschool.io to learn more! Links Mentioned in Today’s Episode: GameStop just bought Phase Clan for $17 million Hello Bello filed for bankruptcy Leave Some Feedback: What should we talk about next? Please let us know in the comments below Did you enjoy this episode? If so, please leave a short review. Connect with Us: Single Grain << Eric’s ad agency NP Digital << Neil’s ad agency X @neilpatel X @ericosiu Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	All right now.
0:02.0	GameStop just bought Phase Clan for $17 million, which was valued at $725 million.
0:08.4	It actually went public like a year or two ago.
0:11.0	Better.com, which is the one where you can get home mortgages, 97% down if you look at the stock.
0:16.9	And then Neil, you can talk about this one.
0:18.6	So Hopin, they sold for $15 million and they previously raised $1 billion.
0:28.4	How much did the founder take in secondary on that one, Neil?
0:31.0	$140 million. Good for the founder.
0:34.0	You ended up making up some cash even though the business didn't work out.
0:37.0	Props to you.
0:38.0	Yep.
0:39.0	And then another one, Hello Bello is one,
0:41.0	it's a diaper company that was founded by two celebrities. don't know if you use it for your kids Neil but these these people so hello bello this is interesting because um they
0:55.0	the two founders sniper company.
0:56.2	Yep, so the two founders have like 20 million
0:59.0	social media followers combined
1:00.8	and they actually hired an executive
1:02.2	that helped found the honest company I believe which is just
1:04.8	Alba's company which went public which I don't believe is doing well right now either.
1:08.6	But what ended up happening was they launched the first year they did 80 million in revenue and then the second year I think they're on track for like 180 million or something like that
1:17.6	but you know their liabilities caught up to them and then they basically you know fire sailing
1:22.2	the thing right now so let's talk about how they still have a lot of revenue or they just have a lot of losses
	...

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