Gel Blaster Acquisition Deception
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A story about how a successful D2C founder got deceived by a major toy company who pretended to acquire his company only to copy his product.
"This guy created something called Gel Blasters - think like a Nerf gun or BB gun but with gel pellets. It went from 0 to tens of millions in revenue in a year. He has a crazy story of getting screwed over by one of the big toy companies.
They pretended to buy his company for like $100 million. During diligence, he shows them all the design files, the CAD files, everything, the specs of the product. They fall out of the deal, and then 3 months later launch an identical product to compete with him and steal his influencer marketing plan - everything."
Shaan Puri
Host of MFM
Shaan Puri is the Chairman and Co-Founder of The Milk Road. He previously worked at Twitch as a Senior Director of Product, Mobile Gaming, and Emerging Markets. He also attended Duke University.