The acquisition of Mielle Organics has created a divided debate about the groundbreaking move. Many have raised their concerns about what it means for the future of the brand, which caters to Black and brown consumers.
While people have opened up a dialogue about acquisitions, Necole Kane chimed in about wanting there to be more of a focus on the side that people don’t really get to see when founders sell their businesses.
In light of Monique Rodriguez’s announcement, the My Happy Flo founder and CEO was transparent about her own journey as a founder.
“I’ve built three brands. The first I opted to turn down millions in acquisition offers because I wanted to choose its ending,” Kane shared via Twitter. “I left money on the table for integrity. The second, I definitely sold for much less than I would have preferred but the sell was only two years in…”
She continued: “I also stayed on for five years, longer than most founders and every day of that five years I was riddled with depression, anxiety and uncertainty about my future because I was running a company that was no longer mine.”
I've built three brands. The first I opted to turn down millions in acquisition offers because I wanted to choose its ending. I left money on the table for integrity. The second, I definitely sold for much less than I would have preferred but the sell was only two years in…
— Necole Kane (@hellonecole) January 17, 2023
Although Kane was transparent about her personal experience in her Twitter thread, she admitted to why it can be a challenge to share on social media.
“I haven’t talked about me personally selling a business a lot because the internet and all the discussion around acquisitions when it comes to black founders isn’t a safe space. Everybody got an opinion and most have never been where you are trying to go.”
In October 2022, Kane stepped down from xoNecole to embark on running her plant-based period pain relief supplement brand full-time.
“Most founders who’ve sold their brands can attest, it’s never easy leaving a brand you’ve birth,” Kane said, at the time. “This has been a very emotionally charged bittersweet year but it was time I parted ways and fully stepped into who God called me to be. There is a new life waiting for me.”