I sold my website for more than $60m and now it’s being turned off
CarAdvice founder Alborz Fallah reflects on the origins, the sale, and the switching off of the website he sold to Nine, following the announcement that Nine would roll CarAdvice into its Drive motoring platform.
When I came to Australia from Iran at the age of nine, my goal in life was to escape the challenges of being financially and geopolitically disadvantaged and Australia offered enormous opportunities to do just that.
I learnt at an early age that traditional employment was not my style and as an entrepreneur at heart, it took me 17 attempts at starting a business to get one to go big, but when I started CarAdvice in 2006 I never imagined it would one day be acquired by Australia’s biggest media entity for more than $60m – one of the biggest media deals of the decade – and frankly, I never imagined that it would then be turned off less than two years later.
So, what is it like to be told something you have started and helped build into an industry-leading destination will be retired?
