Comment by pajeets

> you can bet this isn't the exit most parties wished for. Although by this stage the founder(s) is probably happy to find a buyer who will retain their team.

I've seen a startup that was bootstrapped 10 years ago but took on too much money and ended up getting acquired for "undisclosed sum" but at the same time everybody knew the investors were just recouping their money while founders got nothing (they had sold their equity for raising more money as their costs were way up but nobody was buying their product). Cue local news reporters don't know the nuances so they'll just announce "Startup X acquired by Y, wow!"

Founders place a lot of emphasis on getting "acquired" but there is roughly 95% chance of you selling at breakeven where the terms leave you with a year's worth of salary as a junior SWE

Get ready to see a lot more of these "acquired" news coming out in the near future. something around less than 1% chance of getting more money than you put in.

Startup has horrible odds especially if you are building a simple GPT wrappers