Business · Companies · 14 hrs ago
DearNova founder kept control until final 20% of sale price was paid
Gerard van de Looi sold software company DearNova in 2019 but did not receive the full price at once.
The final 20% depended on revenue and profit targets being met.
This arrangement meant part of the sale payment was tied to how the business performed after the deal.
Van de Looi said, “As long as the last part has not been paid, I remain the boss.”
He stayed in charge while that payment was outstanding.
The account gives no details about whether the targets were met or when the final payment was made.
Entrepreneur Gerard van de Looi did not receive the full sale price when he sold software company DearNova in 2019.
The final 20% was paid only after certain revenue and profit targets were met.
Van de Looi said he would remain in control until that final portion had been paid.
The article describes this arrangement as one way entrepreneurs can stay involved after selling a business in exchange for a higher price.
- Who
- Gerard van de Looi, entrepreneur and DearNova founder.
- What
- He sold his software company but did not receive the full sale price immediately.
- When
- The sale took place in 2019.
- Where
- Not stated.
- Why
- The final 20% was contingent on meeting certain revenue and profit targets.
This story does not have two clearly opposing sides.
Gerard van de Looi sold software company DearNova.
The final 20% of the sale price was paid after certain revenue and profit targets were met.
- Company
- DearNova
- Seller
- Gerard van de Looi
- Sale year
- 2019
- Final payment
- 20% of the sale price
- Payment condition
- Certain revenue and profit targets had to be met
What people are saying
As long as the final part has not been paid, I remain the boss.