The ZIPster • 26 implied HN points • 27 Jun 25
- CitNOW started from a small kitchen table and grew significantly over time, eventually selling for £30 million. It shows that with hard work and determination, big things can begin in small places.
- During the sale process, Tenzing had concerns about CitNOW’s growth potential, which led to a renegotiation of the sale price based on achievable sales targets. This illustrates the importance of clear, honest projections in business.
- The final sale agreement included a performance target that required the remaining team to prove they could generate more revenue. This highlights the necessity of aligning incentives to ensure everyone works towards the same goal.