Overview

In 2008, Touraj Parang's award-winning startup, Jaxtr, had 10 million users, raised nearly $20 million from top-tier Silicon Valley investors, and seemed poised to sail straight through the Great Recession. But, by January of 2009, Jaxtr's only hope for survival was to find a buyer--sadly, it was too late for that. In Exit Path, Touraj draws on the lessons learned from that chaotic experience and the extraordinary successes that followed once he made creating and executing an exit strategy a top priority. In this comprehensive guide, you'll learn that implementing an exit strategy early will empower you to take charge of your startup's ultimate fate, maximizing its potential for success while mitigating the risks of failure. Exit Path walks you through actionable steps to devise and execute an effective exit strategy, starting with a fresh new perspective on the critical importance of creating a viable sale option for your startup. You'll learn why creating your exit strategy is necessary well before you're contemplating an exit, regardless of the stage of your startup. You'll also discover how to create your own exit plan, how to make your plan a reality through personal and business relationships, and how to approach and negotiate with acquirers for an outcome best aligned with your values and ambitions should the need arise.

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Touraj Parang is a veteran Silicon Valley insider. He is a seasoned entrepreneur, investor, adviser, and M&A expert who has sat in almost every seat around the table in Silicon Valley since late 1990s, including as a corporate attorney at legal powerhouses Wilson Sonsini Goodrich & Rosati and O'Melveny & Myers. Touraj has been a founder, executive, and trusted adviser to several fast-growing technology startups with exits to LinkedIn, Instacart, Vistaprint, Postmates, and Amplify, among others. He has also spent nearly a decade on the acquirer side of M&A deals as a corporate development executive at Webs and GoDaddy. Exit Path draws on Touraj's decades-long unique experience involving hundreds of M&A transactions, strategic partnerships, and venture capital investments totaling billions of dollars in aggregate value. He is currently the chief operating officer at Serve Robotics, which he helped spin out of Uber, and an operating advisor at Pear VC, a leading early-stage venture capital firm, where he enjoys collaborating with and providing strategic guidance to mission-driven entrepreneurs. Touraj earned his JD from the Yale Law School, where he served on the editorial boards of Yale Law Journal and Yale Journal of International Law and his AB in philosophy and economics from Stanford University, where he was the founding editor-in-chief of the Dualist Journal of Philosophy and won the Ethics in Society Honors Program award. Brian Holden grew up in Traverse City, Michigan, went to college in Ann Arbor, and lived in Los Angeles just long enough to forever hate the winters in Chicago. In addition to running his theater company, StarKid Productions, he performs improv comedy. But no, he can't tell you a joke. Only by responding truthfully in the moment is he absolutely hilarious. He loves reading and is happy that he's gotten to lend his voice to some great stories so far.

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