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Are you – as the tech person, with the most effort/sweat invested in the current product – interested in developing your product further?

How “successful” were your pilot programs with these large companies? Successful enough to get someone to PAY actual $$? To commit, to sign, to put a deposit?

No one seems to be proficient in “sales” (something I’d think would come from the “product/biz/marketing” person) in this scenario.

Can you sell your product/Intellectual Property to another company/competitor before going through with the acquihire?

Source: sole tech founder in the fashion space

I hope you are not a financial adviser.

Paying 1.2 Million for what? For 0 (zero) revenue? For 0 customers?

If she was worth paying 1.2 million, wouldn’t you think that people like her work (clothes) so much to actually pay for it?

Apparently the customers don’t believe that her work is worth any money.

“You are worth what the market would pay for you.”

OP stated: “Don’t yet have paying clients.”

=> worth 0 €

You are looking here for a salary (a job), not for a acqui-hire, because there’s nothing to acquire, no sales, no products, no nothing?

Let me do the DCF for you: 0 EUR earned, 0 EUR next year, in fact probably some -few k for overhead cost. So you’d have to pay me to acquire you!

“and there should be more of us”

Right, because only men are working in the fashion industry?! And why should there be even more women/less men in fashion? Pretty sexist.

Again, looks like you are looking for a JOB. So depending on your fashion skills (you don’t have a brand, otherwise you’d have paying customers) probably something between 10k-100k. If you are a star even more, but you have no paying customers.

“Is it fair to add up all the hours spent over the year or so, times it by $100/hr and ask for that number as a talent buyout?”

No it’s not, it’s ludicrous. Welcome back to reality.

Successful mature businesses is seldom bought for their people. More often its their customer base.