31 Jul Built to Sell Radio: How Alex Macdonald Sold Velocity Black to Capital One for a Reported $297 Million
In 2014, Alex Macdonald co-founded Velocity Black, a global digital concierge service for affluent clients. Unlike the basic concierge services of some credit cards, Velocity Black leverages technology and expert knowledge to curate personalized services such as travel, entertainment, shopping, and dining, accessible directly from your phone.
By 2022, the business had expanded to $30 million in net revenue, attracting attention from potential buyers, including Capital One, which acquired Velocity Black for a reported $297 million. In this episode, you’ll learn how to:
- Outsmart and compete with large corporations.
- Attract and retain high-net-worth individuals.
- Prepare for the post fundraising phase of your business.
- Avoid a capital-raising mistake that could cost you millions.
- Build trust and foster confidence with potential investors and acquirers.
- Handle partners who demand exclusivity (without giving it to them).
