Teamshares is a New York-based startup with big ambitions to capitalize on an opportunity in plain sight: that of small businesses without a succession plan.
Teamshares is a low-flying, New York-based startup with big ambitions to capitalize on an opportunity in plain sight: that of small businesses without a succession plan.
In fact, according to co-founder and CEO Michael Brown, Teamshares doesn’t want to sell the companies it is buying — ever.
We built a neobank, we’re soon to launch credit cards, and we’re building an insurance business as well, so there’s a secondary layer of financial products that will basically replace the vendors that the companies used to use.
We only build something if a product doesn’t exist for our exact use case, which is some combination of really traditional small business or employee ownership.
When we set out, we didn’t think we’d build a neobank, but there just wasn’t something that existed to our satisfaction, in part because small businesses still unfortunately receive a lot of checks.
In terms of the Berkshire Hathaway piece, we subscribe to a lot of their philosophy about being very long-term minded and being pretty efficient in our underwriting and keeping things simple.
The original article contains 1,632 words, the summary contains 175 words. Saved 89%. I’m a bot and I’m open source!
This is the best summary I could come up with:
Teamshares is a low-flying, New York-based startup with big ambitions to capitalize on an opportunity in plain sight: that of small businesses without a succession plan.
In fact, according to co-founder and CEO Michael Brown, Teamshares doesn’t want to sell the companies it is buying — ever.
We built a neobank, we’re soon to launch credit cards, and we’re building an insurance business as well, so there’s a secondary layer of financial products that will basically replace the vendors that the companies used to use.
We only build something if a product doesn’t exist for our exact use case, which is some combination of really traditional small business or employee ownership.
When we set out, we didn’t think we’d build a neobank, but there just wasn’t something that existed to our satisfaction, in part because small businesses still unfortunately receive a lot of checks.
In terms of the Berkshire Hathaway piece, we subscribe to a lot of their philosophy about being very long-term minded and being pretty efficient in our underwriting and keeping things simple.
The original article contains 1,632 words, the summary contains 175 words. Saved 89%. I’m a bot and I’m open source!