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00:00:00 – 00:10:25
The video discusses the speaker's journey of acquiring eggcartons.com, a business they found after starting a unique private equity firm with the help of unpaid interns. The firm bought eggcartons.com with debt, secured via an uncollateralized loan. The previous owner, Sarah Moore, a Harvard graduate, evolved the business from eggs to specialty packaging, attracting clients like Boeing and Disney. Moore's story of acquiring the business with bank debt and a seller's note, without any upfront funds, is highlighted. The speaker expresses admiration for Moore's inspiring mindset of seeking freedom and decision-making based on courage rather than fears. The video concludes with the speaker's desire to have Moore as a podcast guest despite her elusive online presence.
00:00:00
In this segment of the video, the speaker discusses how they started a private equity firm with no funds, working out of a school library and utilizing over 50 unpaid interns to research potential companies. After a year and a half of searching, they discovered eggcartons.com, a website selling various egg cartons and packaging materials. The previous owner had sold the business to a woman named Sarah Moore, a Harvard graduate, prompting the speaker to reach out to her for an interview on a podcast. Despite initial lack of response, Sarah eventually agreed and praised the speaker’s portrayal of the business on the podcast.
00:03:00
In this segment of the video, the speaker shares the story of how they acquired eggcartons.com. They started a unique PE firm and used unpaid interns to research companies before finding eggcartons.com. They bought the business with debt and their car as collateral. The business had a strong history of profitability and high barriers to entry. The founder had purchased multiple domain names. The speaker mentioned that the scale of the business was significant, with revenue less than 50 million but likely more than 20 million. The negotiation process involved contacting over 100 banks, with one eventually agreeing to an uncollateralized loan.
00:06:00
In this segment of the video, the speaker discusses how a woman bought a business with 75% bank debt and 25% seller’s note, with no money down. She had an accountant audit the business before the purchase. The woman participated in research studies to make money, including going legally blind during a deodorant study. She shared anecdotes about faxing photos to thousands of businesses and encountering challenges such as requiring fake IDs for interns. Additionally, she faced dangerous situations in India. The business she purchased was initially an egg company but has evolved into specialty packaging, with 40% of revenue coming from non-egg-related sources like Boeing, SpaceX, and Disney. The speaker praises the woman’s accomplishments and muses on why she doesn’t share her experiences more publicly.
00:09:00
In this segment of the video, the speaker discusses being inspired by a woman named Sarah Moore, who is difficult to find information about online. She is described as inspiring and expresses a desire to have her on the podcast despite the lack of public presence. The speaker admires Moore’s mindset of seeking freedom and not letting fears guide decision-making. They express excitement about potentially having her as a guest despite the mystery surrounding her online presence.