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It's that "it depends" that initiates the chain of events that PG is cautioning against. Judiciously reining in curiosity when history has demonstrated it to be

• api 12y ago
  Well if you do what to at least have the discussion, one tactic might be to throw an optimistic-but-reasonable valuation at them. "Yeah, that'll be $50 million..." Then when they push back or ask for more info, just more or less repeat that and say you're too busy managing your growth to spend more time on it unless they're willing to move forward with an offer on paper. Just turn the whole thing around. If they go away, you're done (which will probably happen 99.9% of the time). If not, maybe you'll actually get it. You could even pull the exploding term sheet trick backwards on them. "We wouldn't be interested in less than (insert biggish number here), and we'll need a response in two weeks." (Obviously word it more politely.)
  • ebiester 12y ago
    I would use a bigger number -- say $250m. Go outrageous. Honestly, it's not worth letting them see in with DD for a small enough amount.
  • LoSboccacc 12y ago
    That would be the Notch way. Oh, and if someone is serious about buying this, that would be 2B. Enter Microsoft.