Mike Lazerow made a significant chunk of change when his company, Buddy Media, was acquired by Salesforce last month for $689 million.But there are three young employees there who also made out quite nicely.
Dan Reich graduated from Wisconsin in 2008 and started a company with two of his college friends in 2010, Spinback. Andrew Ferenci became its CEO; Corey Capasso was the third founder.
Spinback was originally created by Jeffrey Leventhal and Gilt Groupe’s Alexis Maybank. After a messy business divorce, Leventhal recruited Capasso to take it over.
Spinback helped advertisers learn their true social media ROI.
Last year, Reich and his cofounders were offered the chance to join Buddy Media. They had been raising a round of financing when they were approached with a cash and stock acquisition offer instead.
The three founders weighed their options. Ultimately, they bet that Buddy Media would become a large company with a successful exit in a reasonable time frame. Spinback was acquired; an anonymous Quora user pegs the deal price at $15-17 million.
It isn’t clear how much Buddy Media stock each had, but it’s safe to say they made a good decision.