Ep 400 How Alex Macdonald Sold Velocity Black to Capital One for a Reported $297 Million

<p class="MsoNormal"><span lang="EN-US" style= "font-size: 10.0pt; line-height: 107%; mso-fareast-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'; color: windowtext; mso-ansi-language: EN-US;" xml:lang="EN-US">In 2014, Alex Macdonald co-founded Velocity Black, a global digital concierge service for affluent clients.</span> <span lang="EN-US" style= "font-size: 10.0pt; line-height: 107%; color: windowtext; mso-ansi-language: EN-US;" xml:lang="EN-US">Unlike the basic concierge services of some credit cards,</span> <span lang="EN-US" style= "font-size: 10.0pt; line-height: 107%; mso-fareast-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'; color: windowtext; mso-ansi-language: EN-US;" xml:lang="EN-US">Velocity Black leverages technology and expert knowledge to curate personalized services such as travel, entertainment, shopping, and dining, accessible directly from your phone.</span></p> <p><span lang="EN-US" style= "font-size: 10.0pt; line-height: 107%; font-family: 'Open Sans',sans-serif; mso-fareast-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;" xml:lang="EN-US">By 2022, the business had expanded to</span> <span lang="EN-US" style= "font-size: 10.0pt; line-height: 107%; font-family: 'Open Sans',sans-serif; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-bidi-font-family: 'Times New Roman'; mso-bidi-theme-font: minor-bidi; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;" xml:lang="EN-US">$30 million in net revenue</span><span lang= "EN-US" style= "font-size: 10.0pt; line-height: 107%; font-family: 'Open Sans',sans-serif; mso-fareast-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;" xml:lang="EN-US">, attracting attention from potential buyers</span> <span lang="EN-US" style= "font-size: 10.0pt; line-height: 107%; font-family: 'Open Sans',s