How Much Did Blake Sell Toms For? The Shocking Truth

Okay, so you want to know how much Blake Mycoskie sold TOMS for, right? It’s not that simple, actually.

He didn’t sell TOMS outright. Instead, in August 2014, Bain Capital bought a 50% stake in the company. Reuters reported that this deal valued TOMS at $625 million. This made Mycoskie, the founder, a pretty wealthy guy with a personal fortune estimated at $300 million after the deal.

But, Mycoskie remained involved. He still owns the other 50% of the company and is still the Chief Shoe Giver, which is kind of a cool title, don’t you think?

So, while Blake Mycoskie didn’t sell TOMS entirely, the deal with Bain Capital valued the company at $625 million.

Now, let’s dig a little deeper into why this happened. It’s not just about money, though, of course, money is a big part of it!

TOMS had grown rapidly since its founding in 2006, becoming a major player in the “one-for-one” social enterprise model. This means that for every product sold, a good or service is given back to someone in need. In the case of TOMS, for every pair of shoes bought, a pair is donated to a child in need.

Bain Capital saw the potential of TOMS and its “one-for-one” model. They recognized that the company was more than just a shoe company, it was a movement with a powerful message that resonated with consumers. Bain Capital believed that investing in TOMS would allow them to capitalize on this growing trend in socially conscious consumerism.

The deal with Bain Capital was a strategic move for both parties. It provided TOMS with the financial resources it needed to expand its operations and reach more people. For Bain Capital, it was an opportunity to invest in a company with a proven track record of success and a strong social mission.

Ultimately, the $625 million valuation reflects the success of TOMS’ business model and its impact on the world. It shows that consumers are increasingly willing to support companies that are making a positive difference. And while Blake Mycoskie might not have sold TOMS completely, he certainly got a good price for his half of it!