A VC: Paul Graham Tackles Two Issues In One Post
Google's founders were willing to sell early on.
They just wanted more than acquirers were willing to pay.
It was the same with Facebook. They would have sold, but Yahoo blew it
by offering too little.
Tip for acquirers: when a startup turns you down, consider raising
your offer, because there's a good chance the outrageous price they
want will later seem a bargain.