Going Once, Going Twice
(FORTUNE Small Business) – Most entrepreneurs can't bear to part with their companies. But the folks behind Webshots can't seem to stop selling theirs. Andrew Laakmann, 35, Nicholas Wilder, 32, and Narendra Rocherolle, 36, copped $82.5 million in stock back in 1999 after Excite.com acquired their online photo-sharing company. When the dot-com went into Chapter 11 three years later, the co-founders bought it back from the bankruptcy court for $2.4 million. Within 30 months, the digital-camera boom helped the founders rehabilitate the Redwood City, Calif., company into a $12-million-a-year business. In July the trio sold Webshots again, this time for $60 million in cash plus $10 million in deferred compensation, to technology publisher CNET. — ILAN MOCHARI |
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