Optimizely to be acquired by Episerver
I worked at Optimizely from before its series A in 2012 until the end of 2016, so I have a unique perspective on this. For most of the time when I worked at Optimizely, the company was all the rage. It appeared at the top of most "hot startup" lists, the Glassdoor reviews were 5/5, revenue was skyrocketing, and for a period in 2014 it became the fourth most valuable YCombinator company (after Stripe, AirBnB, and Dropbox).
Of course, Optimizely's success was't guaranteed. In 2015, the company abandoned the self-serve market that had driven its original momentum and pivoted instead to vague and indefinite enterprise offerings that were (and are) hidden behind schizophrenic marketing, an impossible sales process, terrible customer service and a general approach of trying to extract the maximum amount of money from clients rather than providing them with value. From 2015 on, everything (including the internal culture) became mumbo-jumbo, a cloud of dishonesty. I used to be able to explain what Optimizely did to my grandmother; now I don't even really understand it myself.Th Episerver acquisition is indeed a bad exit, and I think I will lose >$100k in stock I exercised (which is OK, I'll be fine). But I hope all readers will take from this saga a lesson in humility and the pitfalls of intellectual dishonesty and hubris. Just because your startup is skyrocketing isn't enough. Success is not guaranteed. Your company's leadership needs to be honest with itself, which Optimizely's leadership was not. They need to be humble and work hard, which Optimizely did not do.