Linus Tech Tips (LTT) is a technology-focused YouTube channel with a whole bunch of personality (and slick sponsor segways), created by Linus Sebastian back in 2008. The channel has grown to attract over 15.4 million subscribers and is approaching 7 Billion views.
LTT covers a wide range of topics, including computer hardware, software, gaming, and more. The channel also produces a variety of other content, such as podcasts, live streams, and educational videos. LTT is a popular resource for tech enthusiasts and is a great place to learn about the latest technology.
LTT the channel, is part of Linus Media Group, a company of more than 100 people, that today was recently the subject of an acquisition offer. During a new video today (which already has 2.5 Million views) Linus announced in a video titled ‘I’m Stepping Down..’, that he and his wife Yvonne, turned down a $100 million offer to buy the company.
The offer was serious enough to have broken down the economic split to 60% Cash and 40% Equity in what we assume was a written document presented to Linus. Many founders create companies for this day, the big exit that allows them to buy an island or at least buy a mansion that looks over an island, but not Linus, he said no to the deal.
I’m not interested in selling LTT.
I want to stay in control of the company and continue to create content that I love. I also believe that LTT can be more successful as an independent company.
Linus said he turned down the offer because he wants to stay and continue to create content that he loves. He also said that he believes that LTT can be more successful as an independent company and during the video, he announced an old boss, Terren Tong as the new CEO.
As you listen to Linus speak about the obligations to manage people under the CEO role, it’s clear this hasn’t been something he’s enjoyed.
Every day, his time is consumed by dealing with personnel issues around pay, snacks in the lunch room, and product warranty (customer complaints) and that ends now. Linus clearly loves technology and when you’re as successful as he has been, it shouldn’t shock people that he wants to focus on the enjoyable part of technology, not the less fun stuff of running a company.
This story is not too different to the one at Twitter right now, with Elon Musk soon to step out of the CEO role and focus on product design, features and engineering (the fun stuff).
Only time will tell what the future holds for LTT, but one thing is for sure Linus should take a big, long minute to reflect on what an amazing achievement he’s accomplished, that someone (unknown at this time) was prepared to offer him such a large amount of money for what he has created.
If you have thoughts on who may have made the offer, let’s discuss in the comments below.
