{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"The iGaming Leader","title":"The Right Time to Sell Your Company Is When You Sell It - Benjie Cherniak","html":"","width":"100%","height":180,"duration":2274,"description":"Benjie Cherniak wanted to keep running Don Best. His two business partners wanted to sell. The decision went two votes to one.\n\nHe became fully committed to the deal and describes the outcome as life-changing. But selling meant adjusting to a different reality. Decisions his team could once make in a day might now take three months.\n\nIn this episode of the iGaming Leader podcast, Leo Judkins speaks with Benjie about building Don Best’s in-play trading business, its sale to Scientific Games in 2018, and what founders should consider beyond the price when choosing a buyer.\n\nBenjie also shares how he found his way into investing after the exit, why he now looks more closely at how founders behave when things go wrong, and why founders should interview their investors too.\n\nABOUT THE GUEST\n\nBenjie Cherniak is an iGaming investor and adviser. He is the principal at Avenue H Capital and serves on the board of Kambi. He was Principal and Managing Director of Don Best Sports from 2007 to 2018, leading the business through its acquisition by Scientific Games before staying on for a further two years.\nIN THIS EPISODE\n\n00:00 Highlights and introduction\n03:00 Building Don Best’s in-play trading\n10:00 The decision to sell Don Best\n13:00 Selling with or without bankers\n17:00 Life after an acquisition\n23:00 Finding purpose after an exit\n27:00 What investors want in founders\n30:00 Choosing the right investors\n33:00 Balancing boards, shareholders and employees\n\nQUOTES FROM BENJIE\n\n“If it was entirely and 100% my decision, I don't think we would've sold the company at that time.”\n“So the right time to sell your company is when you sell your company.”\n“You gotta have a few misses to get the hits, right?”\n“How you choose your investors and how you choose your advisors and how you build your cap table, these things all have massive ramifications down the line as you're building your company.”\n“Appreciate it for what it was, appreciate the journey.”\n\nIMPORTANT LINKS\n\nConnect with...","thumbnail_url":"https://img.transistorcdn.com/yqvdFvcfDiDCUT_op0gUBWr9w0nodzeeimRJmH0xYVI/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9lNTg1/MTBkYjJjNjA5MTU2/ZWFkZDc3OGI4MDgx/NDRmOC5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}