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The Exit - Presented By Flippa

How to Exit a Travel Business During a Global Lockdown with Cyrus Ghazanfar

The Exit - Presented By Flippa

The Exit - Presented By Flippa

Technology

52K Ratings

🗓️ 13 February 2023

⏱️ 23 minutes

🧾️ Download transcript

Summary

This week on The Exit: How do you exit a travel business during a global lockdown? When Cyrus Ghazanfar co-founded Pilota, a machine learning product to predict the risk of flight disruptions, he never imagined that every flight in the world would be grounded in just a few months. The travel market completely disappeared as flights were halted, and while the business could sustain themselves for a few months, it turned out COVID would last much longer. So how did they negotiate an Exit to Hopper, a travel company valued at $5B, during a pandemic? Listen to find out. Cyrus Ghazanfar is the Co-founder and CTO at Beagle, which is aiming to solve inefficiencies in the 401(k) market. Previously, Cyrus co-founded Pilota where they used AI to proactively mitigate travel risk, which was acquired in 2021. Website - cyzanfar.github.io/ Website - https://meetbeagle.com/ Twitter @BeagleFinancial- https://twitter.com/beaglefinancial LinkedIn - linkedin.com/in/cyzanfar -- The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

Transcript

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0:00.0

Hello, and welcome to the exit presented by FlipUp, the world's largest market place to buy and sell online businesses and startups.

0:07.0

The exit is a 30-minute podcast featuring amazing entrepreneurs who have been there and they have done it.

0:12.0

The exit talks to operators who have bought and sold businesses of all different sizes.

0:16.0

You learned how they did it, why they did it, and get exposure to the world of the exits.

0:20.0

It's a world occupied by a small few but accessible to many.

0:24.0

Now, this is an episode I've been wanting to do for a long time.

0:27.0

I sit down with Cyrus Gazenvar.

0:30.0

He's a really cool entrepreneur who talks through his experience starting a company called Pilotah.

0:36.0

This was started in 2019.

0:38.0

They go through 500 startups, the startup accelerator that I'm very familiar with, spent a lot of time at 500 in San Francisco.

0:46.0

And we talk about the startup Pilotah that him and his friends started when they were in college and they got some early traction.

0:56.0

And this was a piece of technology that would help almost like an insurance for flights.

1:01.0

So when something got canceled, a flight could get covered by this insurance policy that would get you rescheduled and re-booked on a different flight in the event that something happened.

1:12.0

So really cool product, really great idea.

1:15.0

And what happened was the pandemic.

1:18.0

And this is something that I really wanted to do an episode on because this walks through just the raw, really deep story behind an aquahire acquisition from a larger company during the midst of the pandemic.

1:36.0

I know hundreds of entrepreneurs that I've talked to over the years since the pandemic that similar stories have happened.

1:45.0

And I wanted to do this episode really to highlight that, you know, a true, a true founder and a true entrepreneur is going to continue regardless of what happens.

1:55.0

And what we go through the story with Pilotah flights really just completely freezing during the pandemic really just shows the ambition and the drive that entrepreneurs like Cyrus have.

2:11.0

So he started a new company called Beagle that helps people, you know, solve the inefficiencies of 401Ks.

2:19.0

And he's working on that currently, but digging into Pilotah is a really special story. And I know it's going to resonate with dozens, if not hundreds of people that listen to this episode that really got to experience the pandemic full force when they're operating a startup in the midst of just this meltdown globally.

2:39.0

So this isn't really one of those big shiny exits per se, but this is a true real story here on the exit, because I want to highlight these types of stories as well for entrepreneurs everywhere that experiences.

...

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