It’s simple to make gigantic mistakes in biz. Even if you are doing a great job and you have all the ups-and-downs in your mind, it’s not possible to know certainly how the future will produce. And sometimes that leads to gigantic mistakes, as these 5 entries will prove this -
Twenty years back, Marvel had just lifted itself out of arrears and the firm was worried for a cash influx. So when Sony approached the company looking to buy the film rights for Spiderman, the then leader of Marvel provided them the film rights to all the Avengers, comprising the big leaguers such as Iron Man, Thor, and Captain America, for a meager $25 million.
Then in the year 2000 Blockbuster was given a special chance to purchase Netflix for $50 million, but they said no to the offer. Finally, with the development of webservices, the film rental biz started dying down. At the present, Blockbuster is down to a single store in the United States, and Netflix is valued at $152 billion.
The majority of people don’t know this, but Apple had a third shareholder when it established in the year 1976. Ronald Wayne, an associate of Steve Jobs, was introduced as a businessman rather than an engineer, but he finally give up as Jobs and Wozniak were too powerful. At the time, they offered to cash in his share of Apple, approximately 10 percent, for $800 and he accepted. At the moment, 10% of Apple would be around $92 billion (without dilution).
During the year 1998, two engineers Larry Page and Sergei Brin approached Yahoo, offering to sell their new search engine, Google. All they demanded was $1 million but Yahoo said no to them down, preferring to carry on working on their own search engine. Once again in 2002, they offered Yahoo to buy Google for $5 million but this time the price was too high and Yahoo said no again.
In the year 2006, Viacom Inc made a bid for Facebook, offering up $1.5 billion for the well known social networking firm. Unluckily for them, the $2 million Mark Zuckerberg asked for was too high and they rejected the offer. Of course, 10 years afterward Facebook is currently a web giant, valued at about $479 billion.
Well, these ones were really big mistakes!