Startups.co to Acquire Zirtual, Service to Resume

Re:Startups.co to Acquire Zirtual, Service to Resume by doomspork on Tuesday August 11, 2015 @11:05PM (#10045792)

I often wonder/worry that these sort of "bailouts" and acquisitions reward founders for poor decision making.

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Re:Startups.co to Acquire Zirtual, Service to Resume by cvgraham on Tuesday August 11, 2015 @11:15PM (#10045837)

I am guessing the founder in this case is going not going to be rewarded at all. Sounds like the company had a lot of debt and the "acquisition" was an asset sale. This means that they startups.co bought the assets and left the original company with the liabilities (aka millions of dollars debt). The Zirtual company will likely have to go through a chapter 11 which will be painful. She might get a little bit of extra salary from consulting for the new company but I'm guessing that's it. Overall I am guessing this is a horrible experience for her.

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Re:Startups.co to Acquire Zirtual, Service to Resume by toomuchtodo on Wednesday August 12, 2015 @12:56AM (#10046076)

> Overall I am guessing this is a horrible experience for her.

You either succeed or you learn.

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Re:Startups.co to Acquire Zirtual, Service to Resume by doomspork on Wednesday August 12, 2015 @11:12AM (#10048123)

Thanks for the reply cvgraham!

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