Daily Question for 4 November
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Question

How did Michael Wystrach grow Freshly to a $1.5 billion exit starting with $15 and debt?

Response

Michael Weistrach, speaking in the Asking NY Billionaires video, said he was not from money. He had $15 in his bank account when he started the business at 35, after an earlier company had gone bankrupt. He also carried about a million dollars in debt that he had to pay off within three years, which gave him a strong sense of urgency. He said the business already had some product-market fit when he decided to go all in. He started with 100% ownership and, after taking on investors, sold the business for $1.5 billion while owning about 10% of it. He credited relentless data focus and Meta ads for growing the company to $550 million in sales in a little over five years. He also said the first step is to stop wishing and decide to act.

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