We negotiated for several months. As a founder, you are so emotionally invested in the business you've built, but being emotionally reactive to new developments in the deal process is counterproductive. You need what the poet John Keats called negative capability: the ability to exist comfortably in uncertainty without trying to prematurely resolve open issues. That requires a tremendous amount of self-control. You're representing a lot of people--your partners, your employees, your investors. Try to make the right decision at every juncture without fear or desire clouding your judgment.
We signed the agreements at 3 a.m. and told our employees at 8 a.m. It was a bit surreal. We were excited that they saw the same potential that we did and that we had an opportunity to keep doing what we were doing, but on a larger scale.
The sale reiterated why it's important to talk and build relationships with the people in your space. The more time you've spent with a company in advance, the more conviction you can have that it's the right long-term partner for you. The same goes for the other company: It's making a big bet on you, and it needs to feel like it knows and trusts you. That takes time to build."