It is said that real defeat is when a person stops trying. Otherwise, no matter how difficult the situation is, luck definitely changes at some point. The story of Mike and Cass Lazaro of New York is a great example of this. Soon after marriage, they sold their startup Golf.com, but as soon as the buyer company went bankrupt, they lost everything. Their pockets became empty, investors became angry, and employees became unemployed. But instead of giving up, they decided to float the sunken ship again.
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Story of bankruptcy
In the year 2000, after marriage, Mike and Cass, who returned from their honeymoon, sold their company Golf.com to a company called Chipshot. They were to get about two and a half lakh dollars and some shares from the deal. But at the same time, Chipshot itself went bankrupt. The result was that their money got stuck, employees did not get salaries, and the investment of relatives and friends also got wasted.
Starting again with courage
The situation was difficult, but this couple showed courage instead of giving up. Within just three months, they bought their company back with the help of new investors. Golf.com came back to them at a very low price. The beginning was very challenging. Sometimes, only four people used to handle the entire website. Meanwhile, the popularity of golf legend Tiger Woods started increasing rapidly, and advertisers were attracted to Golf.com. Slowly, the company started to stand up again.
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Recognition from a deal worth crores
In the year 2006, a big media company like Time Inc. bought Golf.com for $24 million, i.e., about Rs 209 crore. Mike and Cass got about $1.8 million, i.e., about Rs 15.7 crore, from this deal. Not only this, after this success, they started another startup named Buddy Media, which later achieved a bigger achievement by selling it for $745 million.