Honest Tea needed cash.
In 1998, the Bethesda, Md.-based tea maker’s first year, Seth Goldman and business partner Barry Nalebuff had raised about $500,000 – from family, friends, and their own contributions. But in 1999, they needed another $1.2 million. Venture capital firms were an option. But Goldman and Nalebuff believed VC firms were often focused on exit strategies – buying companies cheap, and selling them at great profit. The pair had social vision for Honest Tea that they feared...
Want more? Sorry, the full text of this article is only available to subscribers. Subscribe now.
Already a subscriber? Please log in by entering your email address and password into the red login box at the top-right corner of this page.
Need to register for your premium online access, which is included with your paid subscription? Register here.